South Africa avoids junk in June, but S&P warns a 2016 downgrade still possible

June 3, 2016

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Ratings agency S&P Global Ratings announced on Friday evening that it had decided to affirmed its long- and short-term ‘BBB-/A-3’ foreign currency and ‘BBB+/A-2’ local currency sovereign credit ratings on the Republic of South Africa. The much anticipated decision meant that Africa’s most developed, but stagnant economy had avoided being downgraded to a subinvestment-grade status.

Category: General