April 3, 2017 / 4:06 PM / 6 months ago

South Africa's credit rating downgraded to junk by S&P

JOHANNESBURG, April 3 (Reuters) - SP Global Ratings downgraded South Africa’s sovereign credit rating to BB+ from BBB- grade on Monday, saying that the recent firing of the internationally respected finance minister posed a risk fiscal policy.

The rand fell by as much 2 percent to the dollar in response to the news of the downgrade, while government bonds also weakened sharply.

Reporting by Mfuneko Toyana; Editing by James Macharia

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below