Market analyst, Nerina Visser looks at South African markets as latest round of ratings news, S&P downgraded the major South African banks yesterday, and Moody's have put the same banks, as well as several parastatals and corporates, also on a downgrade review. This has put further pressure on the Banking sector, yesterday there were a number of economic data releases that gives us better insight into the state of the South African economy and a different picture emerged from the Purchasing Managers' Index, which expanded for the 7th straight month..