ANC may lose majority in next elections: Fitch Ratings

JOHANNESBURG - Ratings agency Fitch believes the ANC may lose its majority in next year’s elections but, it says this will unlikely result in major changes in economic policy.

Fitch again maintained its BB- credit rating on South Africa.

READ: Fitch affirms SA's BB- credit rating

Although there was no negative adjustment, the ranking does sit in sub-investment grade.

An unfavourable credit rating increases the cost of borrowing.

South Africa is being held back from returning to investment grade largely because of poor growth, high unemployment and infrastructure challenges.