Moody's downgrades South Africa

Moody's downgrades South Africa

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Moody’s announced last night that they are cutting South Africa’s sovereign credit rating to Ba1 From Baa3.

The outlook remains negative. This means that the country now has a sub-investment grade rating. All three major rating agencies now have South Africa rated as sub-investment grade, meaning that we as a country will fall out of the FTSE World Government Bond index.

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