We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Neither the proposed economic recovery plan nor the medium term budget policy statement did much to instil confidence that SA is on a path to economic recovery.

That certainly appears to be the sentiment of the ratings agencies, which responded by pushing SA’s sovereign credit rating deeper into junk territory. Fitch cut the country’s foreign and local currency rating to BB-, three levels below investment grade with a negative outlook, while Moody’s took its rating to Ba2, two levels below investment grade. SA now faces higher borrowing costs, making economic recovery even more challenging...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now