South Africa on verge of being removed from global bond index after S&P downgrade
S&P downgraded South Africa’s long-term foreign currency debt by one notch to ‘BB’ and its local debt by a notch to ‘BB+’, citing a deterioration of the country’s public finances on account of weak GDP growth. Source: Moneycontrol On Friday, Africa’s most industrialised country got a harsh reality check from the financial world. Rating agency…
