August 30, 2018 / 2:06 PM / 2 months ago

S&P says South Africa's ratings unlikely to be downgraded like Turkey

JOHANNESBURG, Aug 30 (Reuters) - 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. (Reporting by Alexander Winning Editing by Alison Williams)

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