Credit rating agency S&P Global Ratings lowered South Africa's credit rating, according to a statement released on Saturday.
Pointing to the weakening economic and financial trend of South Africa, the institution reduced the country's rating from BB + to BB. The view was static when it was negative.
Moody's said on Friday that it is considering South Africa for rating downgrades.
The South African rand lost 1.32 percent against the dollar since Friday's opening.
Source; Bloomberg Turkey