In an article on Eyewitness News, BLSA’s Nicky Newton-King, CEO of the Johannesburg Stock Exchange, talked about the devastating effect of South Africa’s credit rating downgrade.

“The CEO of the Johannesburg Stock Exchange Nicky Newton-King says that the decisions by Standard & Poor’s Global ratings to downgrade South Africa to junk status and for Moody’s to place the country’s rating on review for a downgrade is a catastrophic moment for the country.”

“‘This is a very catastrophic situation for the country. No good comes from a downgrade and I think we must take the warning from Moody’s seriously. Two downgrades put our position in global bonds under threat.'”

You can read the full article here: JSE’s Newton-King: Credit rating moves a catastrophic moment for SA