• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

Loading...
See More

Investec: Ratings downgrade little surprise

Sep 27 2012 19:00 I-Net Bridge

Related Articles

Moody’s downgrades SA

Investors shrug off 'negative' EU rating

Moody's withdraws Drakenstein rating

Moody’s warns on Telkom fine

JSE edges up during tentative trade

Moody's downgrades Nokia credit rating

 
Johannesburg – Moody’s downgrade of South Africa’s government bond rating by one notch to Baa1 from A3 on Thursday comes as little surprise‚ according to Malcolm Charles‚ portfolio manager at Investec Asset Management.

“This downgrade was probably the most expected rating action South Africa has had. Moody’s put South Africa on negative watch last November and they have made it well known that it was a serious probability that the downgrade would follow‚” Charles said.

It had therefore come as little surprise and the expected impact had already been largely factored in by the market‚ he said.

“It is worth pointing out‚ however‚ that the Moody’s rating was one notch higher than that of S&P and Fitch‚ so this downgrade brings their rating in line with the others‚” Charles pointed out.

“This action sends a message that as a country‚ our challenge is to ensure we remain focused on creating an investment friendly environment that creates jobs‚” he added.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.
 

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!

 
 

Luxury living

WIN!
Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...