# S&P Global downgrades SA, Moody's gives lifeline | IG South Africa

> S&P Global cut South Africa's local-currency debt to sub-investment grade and lowered its foreign-currency debt one notch deeper into junk on November 24. Moody's kept both ratings at Baa3 but placed them on review for downgrade, pending the ANC conference and the February budget. The rand fell about 2% after the S&P decision and then recovered.

- Date: 2017-11-27 · published 2017-11-27T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/68286-s-and-p-global-downgrades-sa-moody-s-gives-lifeline-ig-south-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A Moody's downgrade could trigger index exclusion and large forced bond selling, which would pressure the rand and raise import costs for feed buyers. Until the review concludes, the currency faces event risk.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- ig.com: https://www.ig.com/za/view-ig/s-p-global-downgrades-sa--moody-s-gives-lifeline-40866-171127

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