SA was sunk deeper into junk status on Friday, receiving a double bill of ratings downgrades from both Moody’s Investors Service and Fitch Ratings.
Within a few minutes of the decisions, the rand moved from being 0.5% firmer on the day to 0.18% weaker at R15.4253/$.
Both agencies maintained their negative outlook, with Moody’s now placing SA at two notches into junk, and Fitch moving SA three notches below investment grade.
BusinessLIVE
