S&P Global Ratings has retained SA’s foreign currency rating at BB- with a stable outlook.
The decision was expected by most analysts with Nedbank economist Isaac Matshego and Investec chief economist Annabel Bishop both saying earlier on Friday: “We expect no change.”
S&P last downgraded SA’s rating in April 2020 to three rungs below investment grade as the world was thrust into the Covid-19 pandemic and global economic activity ground to a near halt.
The next scheduled review from S&P is in November. It can however change a rating at any time.
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