Rating agency Fitch has affirmed South Africas credit rating at the current sub-investment grade of double-B-minus BB- with a stable outlook.
According to Fitch, South Africas credit rating is constrained by several factors, including low real growth, high poverty and inequality levels, along with rising government debt-to-GDP ratio.
However, the rating is supported by a favourable government debt structure with long maturities that is dominated mostly in local-currency, with strong institutions and a credible monetary policy framework.
