Pictrue: 123RF/ONYPIX
Pictrue: 123RF/ONYPIX

S&P Global has downgraded SA deeper into junk status. The ratings agency now has the country at two rungs below investment grade, due to the fear around Covid-19 and its effect on the economy. Fitch on the other hand as downgraded five SA local banks.

Business Day TV spoke to S&P Global’s director and lead analyst for SA’s sovereign ratings, Ravi Bhatia, and Fitch Ratings senior director Mahin Dissanayake about the implications of the recent downgrades.