Political analyst, Nic Borain, says the downgrade by the international rating agency, Standard & Poor's, has not had a profound effect on the market. He believes the markets had factored in the inevitable.
International rating agency, Standard & Poor's, announced that it had downgraded South Africa's sovereign credit rating to junk status or double B plus on Monday.
The markets have not responded catastrophically and I think they are able to make the case that this was going to happen anyway.— Nic Borain, political analyst
Listen to Nic Borain below for more analysis...
This article first appeared on 702 : Markets not badly affected by downgrade - analyst