The most recent decision
Fitch affirmed South Africa's investment grade rating in June 2016. Long-term foreign and local currency Issuer Default Ratings (IDR) have been affirmed at BBB- and BBB respectively. The stable outlook remains unchanged.
The BBB- rating is a reflection of low trend gross domestic product (GDP) growth, significant fiscal and external deficits, and high debts levels. These are balanced by strong policy institutions, deep local capital markets and favourable government debt structure.