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South Africa Rated Stable

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South Africa’s economic outlook rating has been revised from negative to stable, a move which has been welcomed by National Treasury.

Rating agency, Fitch Ratings, on Monday announced its revised outlook, affirming South Africa’s long term foreign currency issuer default ratings at BBB+.

“Fitch indicated that the revised outlook reflects South Africa’s smooth adjustment post the global crisis, and the resilience of the credit fundamentals, which are in line with or better than South Africa’s rating peers,” said Treasury.

“The National Treasury welcomes the announcement, particularly in the current economic climate with rising fiscal risks elsewhere,” it added.

The rating agency’s outlook reflects confidence in South Africa’s credit position as well as future policy direction. – BuaNews

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Alan Straton

Chief Cook, Bottle Washer and Broom Mechanic at MyPE
Passionate about Port Elizabeth and definitely NOT packing for Perth. Alan's ethos is epitomised in the words of Nelson Mandela; "I have fought against white domination and I have fought against black domination. I have cherished the idea of a democratic and free society. If need be, it is an ideal for which I am prepared to die." See more articles by Alan.