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Fitch, South Africa, Ratings

Fitch downgrades South Africa’s credit rating to ‘junk’ status

Ratings agency Fitch downgraded South Africa’s credit rating further into “junk” territory on Friday, another blow for Africa’s most industrialised economy, which is still smarting from a Moody’s downgrade last week. Fitch lowered its long-term foreign-currency issuer default rating to ‘BB’ from ‘BB+” and assigned a negative outlook. The agency cited “the lack of a
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