S Africa’s sovereign rating unlikely to change – S&P's
Standard and Poor’s (S&P’s) was unlikely to change South Africa’s sovereign rating in the near term, the ratings agency said on Monday.
Speaking at a briefing, in Rosebank, S&P sovereign ratings senior director Christian Esters said South Africa, which currently held a BBBA- stable rating, would maintain its rating during the next update in June, and possibly over the next two years.
The nation’s key strengths, such as its institutions, which supported the rating, and vulnerabilities, including low economic growth and external imbalances, had not “really changed much”, he pointed out.
This emerged after a “surprise” uptick in gross domestic product (GDP) in the first quarter laid the basis for a cautiously optimistic outlook on the country’s 2015 growth rate, which was currently estimated at slightly north of 2%, said S&P Europe, Middle East and Africa chief economist Jean-Michel Six.
South Africa was also likely to see a gradual acceleration in growth over the next two years, he believed.
However, Esters noted that the country’s risks remained that of public sector wages, the negotiations for which were currently under way, and an electricity drag, which would shave 0.3% from South Africa’s GDP growth rate for 2015, as well as that of how the current account would be funded.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
