Fitch hikes SA’s outlook from negative to stable
Credit agency Fitch Ratings has revised its long-term outlook for SA from negative to stable, citing improved government finances due to higher commodity prices and a faster economic recovery than anticipated from the slump in 2020.
Fitch affirmed the country’s rating at BB-, three steps below investment grade. SA is already rated junk by all three major ratings companies, losing the last investment-grade rating, from Moody’s Investors Service, in the wake of the Covid-19 outbreak in 2020. ..