How credit ratings agencies view SA’s long-term prospects
Both S&P Global and Fitch Ratings left their long-term sovereign credit ratings for SA unchanged at BB-, three levels below investment grade, retaining their stable and negative outlooks respectively.
S&P, which has not changed its assessment of SA’s debt since April 2020, said in a scheduled report published late on Friday that the nation’s credible central bank, flexible exchange rate and deep capital markets should counterbalance low economic growth and fiscal pressures. S&P’s comments come after Moody’s Investors Service, which rates SA one notch higher, said on May 18 that SA was at risk of a further downgrade should economic growth remain weak as the high interest rates the government was borrowing at meant debt levels would continue to rise...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.