# South Africa looks to structural reform last investment-grade credit rating falls

> South Africa has lost its last major investment-grade sovereign credit rating after Moody's cut it to junk, the first time since its 1994 return to global markets. Finance Minister Tito Mboweni announced a unit within the finance ministry to focus on structural reform, and the rand hit an all-time low below 18 per dollar.

- Date: 2020-03-31 · published 2020-03-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/54411-south-africa-looks-to-structural-reform-last-investment-grade-credit-rating
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Loss of investment grade across all agencies raises borrowing costs and risks index exclusion, which weighs on the rand and raises the local cost of dollar-priced feed imports.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2020/03/31/south-africa-looks-to-structural-reform-last-investment-grade-credit-rating-falls.html

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