South Africa Rated Stable

Fitch Ratings has revised South Africa’s outlook to negative from stable, while affirming the Long-Term Foreign and Local Currency Issuer Default Ratings at ‘BBB-’, CNBC reported. The issue ratings on South Africa’s senior unsecured long-term foreign- and local-currency bonds have also been affirmed at ‘BBB-’. The Country Ceiling has been affirmed at ‘BBB’. The Short-Term Foreign and Local Currency IDRs and the issue ratings on senior unsecured short-term local currency securities have been affirmed at ‘F3’. The rating on the RSA Sukuk No. 1 Trust has also been affirmed at ‘BBB-’, in line with South Africa’s Long-Term Foreign Currency IDR.