SoEs and Gordhan, Hawks standoff still pose risk to SA’s rating

S&P Global says while it’s taken comfort from Treasurys’ targets, the political situation remains a concern.

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JOHANNESBURG - Ratings agency Standard &Poor's (S&P) Global says the slow reform of the country's state-owned entities and the upheaval swirling around Finance Minister Pravin Gordhan still pose risks to the country's credit rating.

The agency's Managing Director for Sub-Saharan Africa, Konrad Reuss, was speaking on the sidelines of a banking conference in Johannesburg.

He says the agency has taken comfort from the targets set by the National Treasury, but the political situation has remained a concern.

S&P left South Africa's rating unchanged at triple -b minus with a negative outlook in June.