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S&P downgrades South Africa's credit rating to 'junk'

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As Jacob Zuma faces backlash over the sacking of ex-finance minister Pravin Gordhan, agency cuts country's rating grade.

Credit rating agency Standard and Poor's (S&P) has downgraded South Africa's rating to junk status, as the country's currency continued to slide following a major cabinet reshuffle.

In an unscheduled review that prompted a sell-off in South African assets, S&P on Monday cited the impact of divisions in the government of President Jacob Zuma that led to leadership changes, including the departure of former Finance Minister Pravin Gordhan.

"This has increased the likelihood that economic growth and fiscal outcomes could suffer," said S&P, which cut its rating by one notch to BB+ - its highest non-investment grade mark - and also assigned Africa's most industrialised economy a negative outlook.



Is there any getting rid of this lunatic? 

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South Africa, has become a black supremacist, genocidal state.

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It's the Whites fault, they are the ones...........

How long did it take for them to destroy a once great country?

Everything is going as planned...Muhahahahaha


Nelson Mandela sings about killing whites

Another Peace Prize winner.

Apparently this song is still popular......

Notice the "white" guy standing next to Mandela singing right along.


What was done to South Africa is the plan for all European Countries.

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