South Africa at Risk of Ratings Downgrade to JUNK!
June 3 — South Africa faces the prospect of being cut to junk on Friday, which could weaken the nation’s currency and bonds, or being spared for at least six months. A downgrade by S&P Global Ratings would move the company’s assessment of the nation’s creditworthiness to below investment grade for the first time in 16 years and put South Africa in line with Turkey and Indonesia. S&P will announce the outcome of the review of its BBB- assessment later on Friday. Bloomberg’s Amo Mbatha reports and UBS Global Macro Strategist Ramin Nakisa discusses with Bloomberg’s Anna Edwards on “Countdown.”