Growthpoint to test appetite for SA after downgrade

South Africa_230
By Virginia Furness
30 Nov 2017

Johannesburg-listed real estate investment trust Growthpoint will next week test whether investor appetite for South African debt has been negatively affected by the series of ratings actions on the country last weekend.

Though South African dollar bonds have rallied in the wake of ratings actions by Moody’s and Standard & Poor’s last week, a banker on the Growthpoint trade said the deal was “a bit of a victim of circumstances given its jurisdiction.” The Baa3 rated issuer is a quality ...

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