South Africa: Treasury On Rating Announcement By Fitch Ratings

press release

Fitch Ratings has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB+' and maintained the stable outlook.

Government has noted Fitch's decision not to further downgrade South Africa deeper into 'junk status'. While Fitch's ratings imply that South Africa is still in line with other emerging markets in the same ratings category, the implications are huge for the country.

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