S&P: No need to change SA's rating yet

File: Standard and Poor's currently has the country's sovereign credit ratings in junk status with a stable outlook, up from a negative outlook.

File: Standard and Poor's currently has the country's sovereign credit ratings in junk status with a stable outlook, up from a negative outlook.

AFP

JOHANNESBURG - Ratings agency, Standard and Poor's says there no need to change the country's rating yet.

That's despite South Africa's weak economic growth and growing government debt.

S&P currently has the country's sovereign credit ratings in junk status with a stable outlook, up from a negative outlook.

READ: SA braces for another ratings review from S&P

The agency's Gardner Rusike indicated that the rating is unlikely to change anytime soon but he did add that South Africa’s economic growth would be below one-percent this year.

He's also highlighted that the recent government bailout to Eskom would continue to put pressure on the budget deficit.

Rusike says, however, it doesn't pose a danger to the country’s sovereign rating if it's just a once-off event.

Source
eNCA