Fitch praises credit fundamentals as it raises SA outlook

RATING agency Fitch yesterday revised SA’s outlook from negative to stable, just days after another positive report from the World Bank predicted Africa’s largest economy could expand this year by as much as 3,5%.

Fitch said SA’s recovery from the global economic crisis had so far been smoother than predicted at first . The economy was emerging from recession with its credit fundamentals roughly in line with, or slightly better than, those of rated peers.

Fitch said monetary policy, which has seen SA enjoy its lowest interest rate in three decades, was supporting economic recovery.

http://www.businessday.co.za/articles/Content.aspx?id=131713

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