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Fitch Affirms South Africa’s “BB-” Rating – Maintains Stable Outlook – Infrastructure news | SA News

Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook.

According to Fitch, South Africa’s credit rating is constrained by several factors, including low real gross domestic product (GDP) growth, high poverty and inequality levels, a high and rising government debt-to-GDP ratio, and a rigid fiscal structure that hampers budget deficit reduction.
“However, the ratings are supported by a favourable government debt structure with long maturities and mostly local-currency-denominated, strong institutions and a credible monetary policy framework,” the National Treasury statement…

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