South African credit rating under each president: 1994 – 2016
South Africa recently dodged junk status when ratings agency S&P Global held the country’s credit rating at BBB-.
Ratings agency Fitch also recently affirmed SA’s investment grade, keeping its outlook stable – but warned that political and growth concerns should be addressed.
Analysts and economists expected this, but said South Africa needs to do a lot of work to avoid a ratings cut at the end of 2016.
According to S&P, low GDP is putting the country’s economy at risk – which is putting strain on businesses and the government.
Rising political tensions were also sighted as accentuating vulnerabilities in the country’s profile.
A cut to below investment grade would push up South Africa’s borrowing costs, making it harder to plug a budget deficit projected at 3.2% of GDP in the 2016/17 financial year, reported BusinessTech.
Credit ratings per South African president
The graphic below shows how South Africa’s credit ratings have changed under the country’s political leaders since 1994.
Fitch, S&P, and Moody’s ratings were used, measured over the terms of South Africa’s presidents – from Nelson Mandela to Jacob Zuma.
More on the SA economy
Massive economic decline in South Africa as recession looms
Fitch spares South Africa from junk
Rand eyes R15 to the dollar as SA awaits Fitch rating, GDP data
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