Fitch affirms SA’s BB+ rating with stable outlook
Fitch Ratings has followed suit with S&P Global Ratings by affirming SA’s rating with a stable outlook. In a statement on Thursday evening, the ratings agency affirmed SA's long-term foreign-currency issuer default rating at BB+. It warned, however, that the country’s ratings were weighed down by low growth potential, sizeable government debt and contingent liabilities, and the risk of rising social tension due to extremely high inequality. Fitch is one of two agencies that rate
SA’s creditworthiness at subinvestment grade following a surprise cabinet reshuffle when then president Jacob Zuma fired finance minister Pravin Gordhan in March 2017.