Business

Emsie Ferreira
1 minute read
23 Nov 2017
8:05 pm

Fitch is giving SA a chance to address issues -Treasury

Emsie Ferreira

On Friday, Moody’s and S&P Global Ratings are expected to announce their decisions.

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.”

– African News Agency( ANA)

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Fitch leaves SA’s credit ratings unchanged at BB+

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