South Africa's debt already priced for junk as growth slows

By Olivia Kumwenda-Mtambo JOHANNESBURG (Reuters) - An expected cut in South Africa's credit ratings to "junk" grade is already being priced in by investors who are increasingly shunning the country's financial assets. Africa's most industrialised economy is seen at risk of losing its investment-grade status because of persistently weak growth and large deficits. Many investors are also unhappy with President Jacob Zuma's handling of the economy.