Moody's to monitor changes in South Africa

Moody's Investors Service said it said the forced resignation of South Africa's President Thabo Mbeki, who was due to leave office in April, has ushered in fresh uncertainty in the political sphere.

On the other hand, there is also a possibility is that Mbeki's departure will bring new stability with the potential ending of a long-running and bitter inter-party conflict that was increasingly centered on the battle between Mbeki and his probable successor, current African National Congress party president Jacob Zuma, the agency said.

Moody's said it expects to monitor developments closely in coming months to determine whether any revision to its ratings is necessary.

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