Home / currency / S&P downgrades SA’s native currency debt to ‘junk’ status

S&P downgrades SA’s native currency debt to ‘junk’ status

S&P universal Ratings downgraded South African native currency debt to “junk” district on Friday, citing a more deterioration in the country’s economic outlook & public finances, sending the rand tumbling.
Moody’s averages the country’s foreign & native currency debt on their lowest investment grade rung of Baa3.
S&P lifted the outlook on both the difficult currency & native currency ratings to stable from negative.
But, given insatiable request for developing market debt, there can be a natural underpin for even South African debt,” told Lesiba Mothata, chief economist at Alexander Forbes.
Fitch endeed averages South African debt as “junk”, & affirmed the rating on Thursday.

S&P downgrades South Africa’s native currency debt to ‘junk’ status

S&P universal Ratings downgraded South African native currency debt to “junk” district on Friday, citing a more deterioration in the country’s economic outlook & public finances, sending the rand tumbling.
Moody’s averages the country’s foreign & native currency debt on their lowest investment grade rung of Baa3.
S&P lifted the outlook on both the difficult currency & native currency ratings to stable from negative.
But, given insatiable request for developing market debt, there can be a natural underpin for even South African debt,” told Lesiba Mothata, chief economist at Alexander Forbes.
Fitch endeed averages South African debt as “junk”, & affirmed the rating on Thursday.
S&P downgrades South Africa's local currency debt to 'junk' status

S&P downgrades South Africa’s native currency debt to “junk” status

Moody’s averages the country’s foreign & native currency debt on their lowest investment grade rung of Baa3.
S&P lifted the outlook on both the difficult currency & native currency ratings to stable from negative.
But, given insatiable request for developing market debt, there can be a natural underpin for even South African debt,” told Lesiba Mothata, chief economist at Alexander Forbes.
Fitch endeed averages South African debt as “junk”, & affirmed the rating on Thursday.
South African debt has endeed been dropped from 1 the widely used universal bond indexes, the JPMorgan developing Market Bond Index Global.

 

 

 

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