Fitch affirms SA rating and maintains negative outlook

Fitch Ratings kept SA’s credit rating unchanged on Wednesday and maintained its negative outlook, highlighting the risks posed by the country’s low growth, rising government debt and exposure to state-owned entities (SOEs).

The decision comes after both its peer ratings agencies, Moody’s Investors Services and S&P Global, changed their outlook on SA-issued government debt to negative from stable in the wake of finance minister Tito Mboweni’s medium-term budget policy statement (MTBPS). ..

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