Investments

What does the downgrade mean for South Africa?

Disease and downgrades: Diary of a bad year for SA

Moody’s finally dropped the sword on South Africa on Friday evening, following in the steps of fellow ratings agencies S&P and Fitch in downgrading the country’s sovereign credit rating to sub-investment grade or “junk status”.

Moody’s downgrade and what it means for investors

The Moody’s downgrade of South Africa’s credit rating should have happened long ago. We’ve known for a long time that our fiscal metrics have been unsustainable, so despite the coronavirus, this is unsurprising.

Moody’s decision to cut SA credit rating to junk expected

Moody’s cut both the local and foreign currency-denominated debt from Baa3 to Ba1 and retained the negative outlook.