FINANCIAL REVIEW: FITCH- SOUTH AFRICA’s JUNK STATUS TO REMAIN UNCHANGED.

 

 

 

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Article posted  by: White Nation correspondent Johannesburg  April 04  2018

 

 

SOUTH AFRICA– THE GLOBALIST’s  COMMUNIST WASTELAND DOWN SOUTH

 

 

SINCE the capture of South Africa by the African National Congress mafioso- the financial status of the country eventually but not surprisingly – declined to junk status due to 20 years of continuing corruption . AND it looks as-if it is not about to change soon with the most recent attack on the economy by union mobster boss Cyril “the squirrel” Ramaphosa  that plans to change section 25 of the constitution that protects private property rights in order steal all private owned property for the regime .

Ratings agency Fitch on Friday decided to affirm South Africa’s long-term foreign and local currency credit ratings at ‘BB+’, – although it maintained a “stable” outlook for the country.  Fitch said that the decision to affirm South Africa credit rating at below investment grade ratings took into consideration that financial challenges at key state-owned enterprises (SOEs) remain substantial and the fact that government debt has yet to stabilize.

But the rating agency said that there were signs of recovering governance standards and the prospect of a mild cyclical recovery. The agency said it believes that changes in the political leadership following the African National Congress (ANC) electoral conference in December 2017 have led to a significant improvement in economic confidence.  Fitch also said it expects Gross Domestic Product growth to recover to 1.7 per cent in 2018 and 2.4 per cent in 2019 despite a sharp contraction in the first quarter.

According to Fitch, the ratings are supported by a favorable government debt structure, deep local capital markets, a healthy banking sector and strong institutions.  In November, ratings agency S&P Global downgraded South Africa’s credit rating to full junk status while its counterpart Moody’s placed the country on review for downgrade.

SOURCE:

https://www.msn.com/en-za/news/national/fitch-affirms-sas-junk-status-with-stable-outlook/ar-AAyHEFg?li=AAaxc0E&ocid=ientp

EDITOR’s FOOTNOTE:

( Now I am a bit confused: Fitch indicated they maintain the junk status for South Africa- with a “stable” outlook. When down to junk status- “stable” outlook then means it will stay junk- as “stable” means you cannot get any lower than that- (although with the ANC thieves plundering record it most probably can even get lower to “junk +++”) – and there is no indication of improvement. That was a clever term or way to put it that it will remain like the rest of the economical structures the greedy ANC kleptocrats put their greedy claws on- junk! Economist Fanie Brink also re-affirmed this position last week. (Link)  – Ed)

 

 

 

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