S&P Global unexpectedly downgraded SA’s credit outlook from positive to stable on Thursday, dealing a blow to the country’s hopes of digging itself out of its junk status hole as infrastructure and deepening power outages weigh on the economy.

The agency, which rates SA debt at BB-, or three rungs below investment grade, cited the slow pace of much-needed reforms being implemented to improve governance at state-owned enterprises (SOEs)...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.