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Not unexpected, & for all the reasons we have all been talking about for quite some time. 1/ businesslive.co.za/bd/economy/202… via @BusinessLiveSA
Most of the downgrade has probably already been priced into bond, interest and exchange rates, but with the Corona-induced risk-fleeing reallocation of portfolios underway internationally, these rates might deteriorate some more. 2/
Also, at a time when the government will need to borrow substantially to finance its Corona fight back, it might find significantly less interest in the bonds it sells to finance the fight back. 3/
#CoronavirusSouthAfrica #Moodys #downgrade
#CoronavirusSouthAfrica #Moodys #downgrade
