Fitch affirms SA's BB- credit rating

JOHANNESBURG - Global ratings agency Fitch has affirmed South Africa's credit rating at BB- with a stable outlook.

Government says it notes the decision and is implementing the necessary reforms to be at investment grade.

The stable outlook comes as the country grapples with crippling power cuts and almost zero economic growth.

READ: IMF predicts near zero growth for SA economy

According to Fitch, South Africa’s credit rating is constrained by low real GDP growth hampered by power shortages, high levels of inequality, as well as government's ballooning debt.

Government says it is implementing urgent measures to reduce blackouts in the short term and transform the sector through market reforms to achieve long-term energy security.

It says its effort to stabilize debt will eventually support economic growth.