SA on borrowed time as budget leaves ratings companies unconvinced

The government is living on borrowed time as two major ratings agencies have warned that SA could be on track for further downgrades if it does not deliver on its promises to rein in debt.

Fitch Ratings, which already has SA two steps below investment grade, said on Friday that failure to come up with a credible plan to deal with debt and boost the economy "could lead to negative rating action"...