SA’s ratings unlikely to be downgraded like Turkey- S&P

S&P Global Ratings said in a report published on Thursday that South Africa‘s sovereign credit ratings were unlikely to be downgraded deeper into “junk” territory, in the same manner as those of Turkey.

S&P, which rates South Africa‘s foreign-currency debt ‘BB’, added in the report that the country’s external metrics were solid and that its monetary flexibility was a credit strength.

S&P downgraded Turkey’s sovereign rating deeper into sub-investment grade earlier this month.