Fitch Cuts South Africa’s Credit Rating To ‘junk’
Ratings agency Fitch said Friday it had cut South Africa’s credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle. The agency downgraded the country’s sovereign debt rating from ‘BBB-‘ to ‘BB+’ but kept the outlook stable. It said the downgrade reflected the view that “recent political events, including … Read more