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...