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Downgrades could impact infrastructure development

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Cape Town - The two recent ratings agency downgrades of SA will have a ripple effect on the built environment sector and the cost of infrastructure development.

That’s the view of TC Chetty, South Africa country manager of the Royal Institution of Chartered Surveyors (RICS).

Last week Fitch Ratings downgraded the government’s long-term foreign and local currency debt to a non-investment grade rating after S&P had earlier downgraded SA's long-term foreign currency rating to sub-investment "junk status". Moody’s has put the country on review for downgrade, with a decision expected in about one to three months' time.

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