Fitch affirms SA’s credit rating, keeps stable outlook

Ratings agency Fitch has affirmed South Africa’s investment grade credit rating maintaining its stable outlook. They did, however, note that the low GDP in Africa’s most industrialised country posed a lasting risk.

“The ‘BBB-‘ rating reflects low trend GDP growth, significant fiscal and external deficits, and high debt levels, which are balanced by strong policy institutions, deep local capital markets and a favourable government debt structure,” Fitch have said in a statement.

More to follow…