There will be "no worries" about downgrades if Cyril Ramaphosa and his team get to implement the deputy president’s "new deal" proposition, former finance minister Pravin Gordhan says. Gordhan made it clear that he wanted Ramaphosa to take over as ANC president in December at "The Gathering" in Sandton on Thursday night. The function was hosted by online publication Daily Maverick. Gordhan’s comment came as Fitch reaffirmed SA’s status at sub-investment grade with a stable outlook on Thursday. It also came a day before S&P Global Ratings and Moody’s Investors Service are scheduled to make announcements. Fitch is the only one of the three ratings agencies to have South Africa’s local and foreign debt in junk territory.
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