Treasury says upgrades show path to investment grade

About this episode

The episode discusses South Africa's recent credit-rating upgrades and the potential for regaining investment-grade status.

Treasury says upgrades show path to investment grade South Africa's recent credit-rating upgrades are a strong endorsement of government policy and show the nation can restore its coveted investment-grade status if it stays on track, said the National Treasury chief. "This is a clear change of direction in our ratings trajectory after more than a decade of negative ratings news," Duncan Pieterse wrote in an op-ed published on News24 Thursday. "It could ultimately see South Africa regain its investment grade status — if it continues to do the right things on fiscal and economic policy." Fitch Ratings raised its credit assessment of South Africa on June 5 to BB, two notches below investment grade, delivering the upgrade before putting the rating on a positive outlook as it often does before taking such a step. The move brought it in line with Moody's Ratings and S&P Global Ratings, which also have the nation on a positive outlook — a significant marker of confidence against the backdrop of dimming global growth prospects and heightened inflation risks due to the Iran war. "South Africa is only the second Group of 20 country to be upgraded by Fitch this year," Pieterse said. "It is…

Topics covered

• credit rating
• investment grade
• government policy
• economic outlook
• fiscal policy
• global growth

Keywords

• South Africa
• credit rating
• Fitch Ratings
• investment grade
• economic policy
• government
• Duncan Pieterse

Mentioned in this episode

Organizations: National Treasury, Fitch Ratings, Moody's Ratings, S&P Global Ratings

Places: South Africa, Iran

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