Standard & Poor's left offshore debt as is (one notch above junk) and dropped the ZAR debt to two notches above junk and on a negative outlook. Standard & Poor's have to decide on junk or not by end 2017 or change the negative outlook to stable, so another anxious 2017 awaits us.
Some great returns, some middling and one very nasty. Portfolio is published here and returns (ex dividends for the 12 months to close 3 December 2016) as below.
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