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S&P Global notes change from govt but still has concerns

The agency has kept its ratings unchanged just below junk status.

Standard and Poor's rating services logo. Picture: Supplied.

JOHANNESBURG - Ratings agency S&P Global says it has noted change from government and within the economy but it still has a few concerns.

The agency has kept its ratings unchanged just below junk status.

There had been concerns that the agency could downgrade the country once again.

S&P says anaemic economic growth in 2018 and sizable contingent liabilities continue to weigh on South Africa's fiscal prospects and debt burden.

The ratings agency says South Africa's new government is pursuing economic reforms that should help boost economy from 2019, despite structural impediments, high unemployment.

S&P adds that rule of law and enforcement of contracts will largely remain in place and will not significantly hamper investment levels in the country.