'Credit rating downgrade will profoundly affect South Africans'
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An economist says a credit rating downgrade will have a profound effect on the average South African.
Officials from ratings agency Moody's will be in the country next week to assess the economy, which has been placed on downgrade review. Should Moody's downgrade the country's credit rating, it would be one notch above junk status. A further downgrade to junk status would make it more expensive for South Africa to borrow money.
Economist Graeme Kerner says it could potentially scare off investment.
Officials from ratings agency Moody's will be in the country next week to assess the economy, which has been placed on downgrade review. Should Moody's downgrade the country's credit rating, it would be one notch above junk status. A further downgrade to junk status would make it more expensive for South Africa to borrow money.
Economist Graeme Kerner says it could potentially scare off investment.
