Fitch cuts S.Africa's Naspers' debt to "junk" status

JOHANNESBURG Wed Aug 13, 2014 4:17am EDT

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JOHANNESBURG Aug 13 (Reuters) - Credit rating agency Fitch on Wednesday cut its rating on South Africa's Naspers' senior unsecured debt to non investment grade or "junk status", citing a deterioration in its profitability due to hefty investment in development.

Fitch cut its rating to BB+ from BBB-, it said in a statement. (Reporting by David Dolan; Editing by Ed Cropley)

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