SA may ‘go deeper’ into junk status

SOUTH AFRICA’S credit rating could get downgraded deeper into junk status if political uncertainty triggered by the firing of the finance minister stalls reforms needed to grow the economy, an executive from S&P Global Ratings said yesterday. “There are risks that potential growth outcomes could be weakened, especially with uncertainty that’s been brought along in a year where you may not get strong decisions for strong reform programmes,” said Gardner Rusike, associate director and lead analyst for South Africa at S&P. – Reuters