S&P Global Ratings maintained its outlook on SA as stable, alleviating the fear the rating agency would give SA a further downgrade at its next ratings review. "Since Cyril Ramaphosa's election as ANC leader in December 2017 and appointment as the country's president in February 2018, business and investor confidence have strengthened," S&P said in its latest sovereign rating report on SA, issued at 10pm on Friday night. S&P held its credit rating on rand-denominated South African government bonds at one tier into junk status, BB+, and foreign-currency denominated bonds at two tiers into junk status, BB. "We anticipate a pick-up in private-sector fixed investment, while lower inflation could boost households' disposable income, resulting in higher household consumption. We now estimate economic growth to average at least 2% over 2018–21, which is still below 1% per capita. We estimate that among the 20 major emerging markets, only Qatar will show slower per capita growth in 2018. W...

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