The Moody's logo is shown outside the offices of Moody's Corporation in New York, New York, USA. The ratings agency has downgraded of South Africas debt rating to one level above junk status, putting further pressure on the economy.
Moody's says it is assessing the economic impact of the changes to leadership in key government institutions and it is expected to announce its rating on Friday.
It currently rates the economy at two notches above sub-investment grade.
The decision comes hours after Standard and Poor’s downgraded the country's credit rating to junk status on Monday. It cited political instability as one of the reasons for the downgrade.