SA’s rating outlook revised from stable to positive
Ratings agency Standard & Poor Global has revised South Africa's credit rating outlook from stable to positive.
JOHANNESBURG - Ratings agency Standard & Poor Global has revised South Africa's credit rating outlook from stable to positive.
It's also affirmed the long term foreign and local currency debt ratings at BB- and BB, respectively.
Government has reacted by saying it welcomes S&P's decision.
According to the ratings agency, recent favourable terms of trade in South Africa have improved the external and fiscal trajectory.
S&P also notes some improvement in the implementation of key reform targets under Operation Vulindlela.
The operation was established in October 2020 as a joint initiative of the presidency and national treasury to accelerate the implementation of structural reforms.
There is also higher than expected tax revenue with a focus now on debt stabilisation.
