Some reports on Moody's decision incorrect

Pretoria - The National Treasury has moved to clarify Moody’s Investors Service’s decision on South Africa’s ratings, particularly on the country’s outlook.

In a statement, Treasury said some media reports have said Moody’s has changed the ratings outlook to negative from stable.

“This is not correct. Moody’s has maintained its negative outlook on the rating. The rating was placed on negative in December.

“The review period that started on 8 March 2016 placed the sovereign on a watch for a credit rating downgrade. That review ended on Friday with a removal of the credit watch but the outlook on the rating has been maintained on negative,” explained Treasury. – SAnews.gov.za