S&P Global Ratings affirms South Africa’s rating‚ keeps outlook negative.S&P Global Ratings (S&P) has affirmed South Africa’s long and short term foreign and local currency bond ratings at ‘BBB-/A-3’ and ‘BBB+/A-2’ respectively. The foreign currency bond rating remains one notch above sub-investment grade whereas the domestic currency bond rating remains three notches above subinvestment grade.Government notes and welcomes S&P’s decision to affirm South Africa’s credit ratings. The benefit of this decision is that South Africa is given more time to demonstrate further concrete implementation of reforms that are under way aimed at achieving higher levels of inclusive growth and place public finances on a sustainable path.The rating outcome demonstrates that South Africans can unite‚ especially during difficult times‚ to achieve a common mission. In this regard‚ government thanks all social partners for their efforts towards achieving this positive outcome and urges our partners to co...
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