{"id":29605,"date":"2013-01-10T19:45:20","date_gmt":"2013-01-10T17:45:20","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=29605"},"modified":"2013-01-11T09:28:17","modified_gmt":"2013-01-11T07:28:17","slug":"fitch-cuts-sa-rating","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/29605\/fitch-cuts-sa-rating\/","title":{"rendered":"Fitch cuts SA credit rating"},"content":{"rendered":"

The ratings agency Fitch<\/a> said Thursday that it has downgraded South Africa’s sovereign debt by one notch to ‘BBB’ and added that the outlook was stable.<\/p>\n

“Economic growth performance and prospects have deteriorated, affecting the public finances and exacerbating social and political tensions,” a Fitch statement said explaining the key reason for its action.<\/p>\n

This cut brings Fitch’s rating of South Africa’s sovereign debt in line with Standard & Poor’s<\/a>, which cut South Africa’s credit rating to ‘BBB’ (or Baa2) in October 2012.<\/p>\n

At the time, S&P cited job layoffs, slowed growth and a negative knock-on impact on the financial and socio-economic position of the country as determining factors for the cut.<\/p>\n

S&P’s outlook on South Africa was set to negative.<\/p>\n

\"\"<\/a>

South Africa’s Ratings before Fitch cut (Click to enlarge)<\/p><\/div>\n

(With Sapa)<\/small><\/h3>\n

More on credit ratings<\/strong><\/h3>\n

Rating SA\u2019s socio-economic minefield<\/a><\/strong><\/p>\n

S&P cuts South Africa\u2019s rating<\/strong><\/a><\/p>\n

Joburg gets credit rating downgrade<\/strong><\/a><\/p>\n

Telkom\u2019s rating cut<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The ratings agency Fitch has downgraded South Africa’s sovereign debt by one notch.<\/p>\n","protected":false},"author":10,"featured_media":17081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3655,2510,26,1513,2621],"class_list":["post-29605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-cut","tag-fitch","tag-headline","tag-rating","tag-standard-poors"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=29605"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29605\/revisions"}],"predecessor-version":[{"id":29607,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29605\/revisions\/29607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/17081"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=29605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=29605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=29605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}