for subscribers

FULL STATEMENT: Treasury responds to rating downgrade

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Malusi Gigaba  Foto: Theana Breugem
Malusi Gigaba Foto: Theana Breugem

Treasury released the following press statement on Monday evening, following news that Standard & Poors had downgraded South Africa to junk status, or non-investment grade for its sovereign bonds:

Rating announcement by S&P following recent political developments

Government notes the sovereign rating announcement by S&P. While S&P has lowered its rating of foreign currency-denominated debt to a sub-investment grade, rand-denominated debt – which constitutes 90 per cent of the debt portfolio – retains its investment-grade rating.  

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.31
(-1.23)
ZAR/GBP
21.09
(-0.61)
ZAR/EUR
19.33
(-0.99)
ZAR/AUD
11.90
(-0.72)
ZAR/JPY
0.16
(-1.15)
Gold
1949.88
(+0.16)
Silver
26.78
(-0.87)
Platinum
929.00
(-0.32)
Brent Crude
43.78
(+2.41)
Palladium
2358.07
(+1.96)
All Share
54673.65
(-0.66)
Top 40
50399.16
(-0.59)
Financial 15
9841.32
(-2.14)
Industrial 25
72558.00
(-1.08)
Resource 10
55438.10
(+0.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1291 votes
It depends on how the funds are used.
73% - 8603 votes
No. We should have gotten the loan elsewhere.
16% - 1893 votes
Vote