[ICYMI] S&P Global Ratings unexpectedly revised its outlook on the country’s debt to positive, from stable, in May, South Africa’s position remains challenging. Moneyweb Inflation ratings
It may be too soon to talk about a South African rating upgrade. While Fitch affirmed its stable outlook and rating assessment on Thursday, and S&P Global Ratings unexpectedly revised its outlook on the country’s debt to positive, from stable, in May, South Africa’s position remains challenging. “We need to just clarify what a positive outlook means in our world,” Omega Collocott, S&P’s director of corporate ratings for South Africa, said in an interview with Bloomberg News.
“One important factor for the macroeconomic outlook is what happens in China,” Bhatia said. “If the lockdowns in China continue, that could be a downside risk for commodity demand.” On the domestic side, Bhatia said South Africa was not getting the full benefit of higher commodity prices because of infrastructure bottlenecks that are partially “self-inflicted.
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