Fitch downgrades SA to junk status

[Nom Chompsky]

BREAKING: Ratings agency Fitch has downgraded South Africa to BB+ ('junk' status).

https://twitter.com/ewnreporter/status/850311024188301312

 

[Gtx Gaming]

13.83 to the dollar atm.

 

[Genisys]

Oh ****. **** just got real.

 

[Hamish McPanji]

Can't we have just 1 downgrade thread?

Or 1 junk thread

And meh

 

[Genisys]

Can't we have just 1 downgrade thread?

No. This is a different agency that downgraded us.

 

[Necropolis]

No surprise there.

 

[Hamish McPanji]

No. This is a different agency that downgraded us.

"SA gets junked/downgraded" thread

 

[Genisys]

"SA gets junked/downgraded" thread

Nope. Won't catch my attention when the other agency downgrades us to Junk.

 

[f2wohf]

Fitch has downgraded the local AND foreign currency bonds whereas S&P downgraded only the foreign currency one.

 

[Azbubu]

Thanks, hope all the protestors are feeling good about themselves.

 

[Hamish McPanji]

Thanks, hope all the protestors are feeling good about themselves.

I need to change dollars. Please make this happen again

 

[f2wohf]

Thanks, hope all the protestors are feeling good about themselves.

What does it have to do with the protest ?

Fitch speaks of the nuclear deal and the change of economic policy. Not the protest...

 

[Former member 61586]

This is some poor attempt at humour right????

 

[Nom Chompsky]

 

[Priapus]

Meh, expected. The rest will follow suit as well. But I think the Rand/$ won't suffer that much.

 

[saturnz]

Meh, expected. The rest will follow suit as well. But I think the Rand/$ won't suffer that much.

according to some we are supposed to have been well over R14 already, but they are quiet for now until we forget

 

[The_Ogre]

13.83 to the dollar atm.

Someone (most likely a bank) just did a huge hedge because it went straight down to 13.74). Could also be our government hedging to not make the downgrade look as bad.

 

[Lupus]

Meh, expected. The rest will follow suit as well. But I think the Rand/$ won't suffer that much.

It's already priced in

 

[Hosehead]

Downgrade was expected today since last Friday . Only Moody's are delaying now

 

[Eskimos]

Its kind of good that its finally happened because we've been flirting with this forever and it was becoming like the boogieman.

Would like to see if Moodys reacts to this or still play the waiting game.