S&P affirms credit ratings for Botswana, South Africa and Senegal - CNBC Africa

S&P affirms credit ratings for Botswana, South Africa and Senegal

Financial

by admin 0

AAA rating board. PHOTO: Getty Images

Credit ratings agency Standard & Poor's affirmed Botswana's sovereign credit ratings at 'A-/A-2' with a stable outlook and South Africa's long and short-term foreign currency sovereign credit ratings at 'BBB/A-2' with a negative outlook.

The ratings for Botswana are supported by its strong institutions and both external and fiscal balance sheets, and a well-managed minerals-based economy, S&P said in a statement.

S&P said South Africa was constrained by sizable current account deficits that could expose the economy to a sudden shift in capital flows due to changes in global risk appetite.

S&P also affirmed Senegal's long and short term foreign and local currency sovereign credit ratings at 'B+/B' with a stable outlook.

"Our ratings on Senegal remain constrained by its weak external and fiscal positions, low GDP per capita, and a lack of monetary policy flexibility," S&P said in a statement.

 

Comments