South Africa - Credit Rating

Fitch Ratings revised the outlook on South Africa's credit rating to stable from negative and affirmed the IDR at 'BB-', citing the faster than expected economic recovery, the surprisingly strong fiscal performance this year and significant improvements to key GDP-based credit metrics following the re-basing of national accounts. The agency also noted that the pandemic continues to weigh on economic performance and remains a source of downside risk for public finances, but the likelihood of severe negative effects on creditworthiness has declined over the last year, despite the recent emergence of the Omicron variant of Covid-19 and the associated rapid surge in new cases in South Africa. Standard & Poor's credit rating for South Africa stands at BB- with stable outlook. Moody's credit rating for South Africa was last set at Ba2 with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of South Africa thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for South Africa as reported by major credit rating agencies.