Moody’s and Fitch both lower SA’s ratings further into junk
Finance minister Tito Mboweni described the downgrades as painful with implications for the country's borrowing costs
20 November 2020 - 23:23
UPDATED 21 November 2020 - 13:00
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/$...
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