Fitch downgrade of South Africa’s domestic debt a risk to sovereign rating: Treasury

The downgrade of South Africa’s rand denominated debt rating by Fitch to one notch above sub-investment highlighted the risk of a sovereign downgrade to “junk” status, the Treasury said on Tuesday.

“Although the action represents an alignment, it also serves as a timely reminder of the risks of a downgrade that lie ahead and the urgency of actions required to reinvigorate the economy,” it said in a statement.