Standard & Poor has not downgraded South Africa to junk status. As we waited with bated breath for the announcement this evening, the nation now breathes a collective sigh of relief for the reprieve.
S&P has chosen not downgraded South Africa's foreign debt. But domestic debt is down a notch. The local currency rating has been lowered. Both ratings remain investment grade
They say South Africa is showing some resilience but say political tensions are something to watch.
This article first appeared on 702 : SA averts junk status by S&P