{"id":357803,"date":"2019-11-27T17:16:41","date_gmt":"2019-11-27T15:16:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=357803"},"modified":"2019-11-27T17:16:41","modified_gmt":"2019-11-27T15:16:41","slug":"south-africa-central-bank-says-moodys-rating-cut-could-risk-8-billion-selloff","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/357803\/south-africa-central-bank-says-moodys-rating-cut-could-risk-8-billion-selloff\/","title":{"rendered":"South Africa central bank says Moody\u2019s rating cut could risk $8 billion selloff"},"content":{"rendered":"

South African Reserve Bank deputy governor Kuben Naidoo said if Moody\u2019s Investors Service cuts the country\u2019s credit rating to junk there could be a selloff of between $5 and $8 billion of its bonds.<\/p>\n

Moody\u2019s last month cut its outlook on South Africa\u2019s rating to negative, meaning the next move could be a reduction to junk because its current assessment is the lowest investment grade.<\/p>\n

That would bring it into line with S&P Global Ratings and Fitch Ratings.<\/p>\n

Like the other two major ratings companies, it\u2019s concerned by deteriorating government finances and the indebtedness of state-owned companies.<\/p>\n

Still, the impact on wider markets and the currency would largely depend on the global attitude toward emerging markets at the time the decision is made, Naidoo told journalists in Johannesburg on Wednesday.<\/p>\n

\u201cIt is very hard to model the impact,\u201d he said<\/p>\n

\n

Read: Moody\u2019s keeps South Africa above junk for now \u2013 with a negative outlook<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

South African Reserve Bank deputy governor Kuben Naidoo said if Moody\u2019s Investors Service cuts the country\u2019s credit rating to junk there could be a selloff of between $5 and $8 billion of its bonds.<\/p>\n","protected":false},"author":59,"featured_media":178577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[7329,26,1512,11449],"class_list":["post-357803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fitch-ratings","tag-headline","tag-moodys","tag-sp-global-ratings"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/357803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=357803"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/357803\/revisions"}],"predecessor-version":[{"id":357807,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/357803\/revisions\/357807"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/178577"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=357803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=357803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=357803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}