Treasury welcomes Fitch’s decision to keep SA’s credit rating unchanged

Treasury says it’s an opportunity to deal with the issues that led to the downgrade in April.

Picture: EWN.

JOHANNESBURG - Treasury has reacted to Fitch's decision not to change the country's credit rating from BB+, which is a level below investment.

In a statement released on Wednesday evening, Treasury says it’s an opportunity to deal with the issues that led to the downgrade in April.

It also says this will lead to an upward revision to the ratings.

Earlier this year, Fitch downgraded the country's credit rating to sub-investment after President Jacob Zuma abruptly fired Pravin Gordhan as finance minister, saying it would likely result in a change in economic policy direction.

Moody's and S&P Global ratings are due to announce their decisions on Friday.