South Africa generally has a good credit quality and its default risk currently remains low, according to Sovereign Africa Ratings . Read: FSCA grants licence to Sovereign Africa Ratings The agency announced its findings on the country’s creditworthiness on Friday, giving South Africa a BBB long-term and B+ short-term rating, with a stable outlook.
Promising to be different and more well-rounded in its assessments, SAR has committed to better serving the continent’s interests. “Our approach is to be modern, to offer sovereign ratings in an accountable way and in a responsible way which is not based on the narrow interest of those who do not care how the economy progresses, how the sovereigns that they rate fare, because they feel it is not their responsibility, it’s not part of their mandate,” says CEO Sifiso Falala.
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