Moody’s Investors Service is scheduled to release a ratings review on Friday.
This comes two months after it cut the local and foreign currency assessments to one level above junk status.
Senior economist at FNB, Mamello Matikinca, says the agency may opt not to do anything for now given that the last assessment was done two months ago.
The environment hasn't really deteriorated significantly enough to warrant an adjustment to their rating outlook.— Mamello Matikinca, Senior Economist at FNB
If anything, we could see them adjusting growth focus slightly lower...— Mamello Matikinca, Senior Economist at FNB
According to Matikinca, Moody's might even choose to wait because there are still a couple of important events coming up that might change the look of things.
In October there will be a Medium Term Budget Policy Statement and the ANC's elective conference is also scheduled for December.
We think once all of these events have passed and nothing materialises from that, we could potentially be downgraded in the second half of 2018.— Mamello Matikinca, Senior Economist at FNB
To hear more of this interview, listen below: