View South Africa Credit Rating Downgrade US. A downgrade of at least one notch is now certain, according to analysts who spoke to cnbc. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of south africa thus having a big impact on the country's borrowing costs.
The challenges facing the global and local market at the moment have not deterred international rating agency, moody's from downgrading south africa's sovereign credit rating to junk status.
Bangladesh, china, cook islands, fiji, hong kong, india, indonesia, south korea, malaysia, marshall. Ratings data from all international and local ratings agencies. Moody's downgraded south africa one notch to baa2, just two notches above junk status. With two other credit rating agencies having downgraded south africa to junk and the country slipping into a recession, economists were waiting for on friday evening, the news was announced that moody's downgraded south africa.