# South Africa Descends Deeper Into Junk After Two Downgrades - Bloomberg

> Moody's and Fitch lowered South Africa's credit ratings deeper into junk territory on Friday, while S&P affirmed its rating three levels below investment grade. The agencies signalled that further cuts are possible.

- Date: 2020-11-20 · published 2020-11-20T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/50430-south-africa-descends-deeper-into-junk-after-two-downgrades-bloomberg
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Sovereign downgrades raise borrowing costs and can weaken the rand, but they do not directly change feed grain or meal supply and demand.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-11-20/south-africa-descends-deeper-into-junk-as-fitch-cuts-rating

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.