Now that Moody’s Investors Service has finally put us out of our collective misery and pulled the trigger, we may be in a position to pronounce on a question that has been occupying minds in financial markets for a while.
So, to what extent was SA’s inevitable credit downgrade to Ba1, down four steps from A3 when Jacob Zuma became president in 2009 — a final testament if ever one was needed of the ANC’s mismanagement during the so-called lost decade — already reflected in the price of SA assets?A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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