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Cape Town - South Africa's sovereign rating, revised upwards to stable from negative in January, could improve further over the long term, a senior Fitch official said on Monday.
"South Africa is currently on a positive outlook and we're very happy with it," Roland Cooper, Africa director, told Reuters.
"I don't see any changes that are imminent but over a
long period of time there is a possibility that the rating could improve,"
he said.
Cooper said South Africa is doing well on its balance of
payments, despite a reversal in the last month, and has potential to grow
further.
The Treasury in February cut its economic growth forecast for 2011 to 3.4% from 3.5% projected last October, as it also forecast a larger-than-expected budget deficit.
