Fitch Leaves South Africa Hanging Over the Precipice (Business Report)

International rating agency Fitch on Wednesday left South Africa open to a further downgrade after it reaffirmed the country’s credit rating at one notch below investment grade and maintained its negative outlook.

Fitch said the country’s long-term foreign and local currency debt ratings remained worrisome at BB+, with low growth potential, high and rising government debt, large contingent liabilities and the risk of rising social tensions due to extremely high levels of inequality. READ MORE

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