Fitch ratings agency’s decision on Thursday, to maintain South Africa’s long-term foreign and local currency debt rating at BB+ has given the country a chance to address issues in a manner that will see an upward revision in its ratings, National Treasury said.
It said South Africa could not afford to be complacent, bearing in mind that Fitch’s decision in April to downgrade the country to ‘junk’ status contributed to a recession, a decrease in revenue and higher borrowing costs.
“Government and the country collectively cannot afford to become complacent about these rising risk exposures.”
Media statement – Reaction to the ratings announcement by Fitch Ratings pic.twitter.com/b0QtQSCyOK
— National Treasury (@TreasuryRSA) November 23, 2017
– African News Agency( ANA)