With ratings agencies Fitch and Standard & Poor’s (S&P) set to announce their new credit ratings for South Africa on Friday, analysts are predicting an inch closer to junk status.
Twelve of 13 analysts surveyed by Bloomberg business news agency said Fitch Ratings Ltd would this week cut its assessment to the lowest investment grade of BBB-.
Furthermore, while S&P should keep its rating at one level above junk, some analysts are predicting the company will lower its outlook to negative, reports Bloomberg.
