UPDATE 1-South Africa's sovereign rating kept steady by Fitch
- Country:
- South Africa
Ratings firm Fitch on Thursday kept South Africa sub-investment grade credit rating steady at subinvestment and maintained its stable outlook, but warned that low growth and rising debt of state-owned firms posed a risk.
"South Africa's ratings are weighed down by low growth potential, sizeable government debt and contingent liabilities," Fitch said in a statement. It rates both Pretoria's foreign and local currency debt at 'BB+', one notch below investment grade.
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