WATCH | SA Ratings | Thumbs up for South Africa

File: South African Rands. GettyImages/RapidEye
 
JOHANNESBURG – The government has welcomed S&P’s decision to revise South Africa’s debt outlook to positive, from stable.
S&P Global Ratings says this is based on improved reform and growth potential.
The ratings agency kept SA’s foreign-currency long-term rating at BB negative, and BB.
The rationale for this is the political stability following the May elections and the formation of the Government of National Unity.
The GNU has committed to boosting job creation, reining in public debt and investing heavily in infrastructure.