South Africa’s debt grading holds just above “junk status”

Three key international credit ratings agencies, Fitch, Standard and Poor, and Moody’s, have kept South Africa’s sovereign debt grading (a key indicator of how investment-worthy a country is) just above “junk” status. It is thought that the proposals on a national minimum wage may have contributed, to some extent, to this taking place, despite the fact that the overall economic outlook in South Africa remains negative.