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London - Fitch rating agency on Friday revised the outlook on South Africa to negative from stable, and affirmed its long-term foreign and local currency issuer default ratings at 'BBB' and 'BBB+', respectively.
The issue ratings on the senior unsecured foreign and local currency bonds have also been affirmed at 'BBB' and 'BBB+', respectively.
This was partly due to the impact of the crippling platinum sector wage strike. Fitch also voiced its concerns over poor prospects for economic growth and rising public debt.
In reaction to this, the rand weakened against the dollar early on Friday.
Standard and Poor's is also expected to adjust its rating after local markets close.
The issue ratings on the senior unsecured foreign and local currency bonds have also been affirmed at 'BBB' and 'BBB+', respectively.
This was partly due to the impact of the crippling platinum sector wage strike. Fitch also voiced its concerns over poor prospects for economic growth and rising public debt.
In reaction to this, the rand weakened against the dollar early on Friday.
Standard and Poor's is also expected to adjust its rating after local markets close.
