South African finmin says held constructive talks with rating agencies


South African Finance Minister Pravin Gordhan said on Monday he had constructive discussions with ratings agencies on a roadshow in London and the United States last week as Pretoria tries to fend off downgrades amid weak economic growth.

Gordhan’s non-deal investor roadshow came against a backdrop of mounting concerns that Africa’s most industrialised economy could lose its investment-grade rating by mid-year, potentially raising borrowing costs for government and firms alike.