April 7, 2017 / 2:37 PM / 6 months ago

J.P. Morgan to remove South Africa debt from its bond indexes

NEW YORK, April 7 (Reuters) - J.P. Morgan said on Friday South Africa will depart from its investment-grade emerging market bond indexes starting in late April, after Fitch downgraded the country’s debt ratings to junk status earlier Friday.

Roughly $49 billion worth of South African bonds are benchmarked against its investment-grade only emerging market bond indexes and $10 billion of debt are linked to its global bond index-emerging market indexes, J.P. Morgan said in a statement.

Reporting by Richard Leong; Editing by Chizu Nomiyama

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below