Day: April 6, 2017

Infographic: How credit ratings work and how junk status will affect you

On Monday evening, Standard & Poor’s (S&P) sent shock waves through South Africa when it downgraded the country’s foreign currency rating to BB+ – officially sub-investment grade – while local currency debt has been downgraded to BBB- (one notch above junk). Both ratings carry a negative outlook, meaning further downgrades may lie ahead. Hours after,…

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