But it's changed the outlook on the country's debt to negative due to the slow growth, rising deficit and debt.The agency together with Fitch already has the country in sub-investment grade.
S&P was the first to move South Africa to junk status in 2017 after former President Jacob Zuma replaced then Finance Minister Pravin Gordhan.Unfavourable ratings deter investment, weakens the rand and increases the cost of borrowing.
Junk status coming very soon.
Does this help the poor of the poorest in the villages of our country?
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING NEWS: S&P Global warns SA may fall further into junkThe agency has lowered its outlook on the country’s ratings, citing myriad challenges ahead for both the government and the economy New Dawn Just in time for black friday & Christmas. A weaker rand will stimulate spending in the abscence of the ideal but not welcomed intrest rate cut. [Twitter street analysis]
Source: BDliveSA - 🏆 12. / 63 Read more »
BREAKING NEWS: S&P Global warns SA may fall further into junkThe agency has lowered its outlook on the country’s ratings, citing myriad challenges ahead for both the government and the economy We already there.Not gonna get better. You can't say anything to people who've hit rock bottom. How far bottom can you go when you're already there. The only way is up now. Waiting with baited breath
Source: BDliveSA - 🏆 12. / 63 Read more »
Platinum poised for first global deficit in three yearsThe metal is expected to return to surplus in 2020
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE drops as global markets ponder US-China trade warChina’s commerce ministry says it will push to reach a partial trade deal with the US
Source: BDliveSA - 🏆 12. / 63 Read more »
OECD warns global growth ‘weakest since financial crisis’The organisation now expects world economic activity to expand by just 2.9% in 2020, due largely to the US-China trade war
Source: BDliveSA - 🏆 12. / 63 Read more »
JSE gains as global sentiment improvesPresident Xi Jinping said on Friday that China wants to complete a phase-one trade deal with the US and to avoid a trade war
Source: BDliveSA - 🏆 12. / 63 Read more »