File: South Africa has a sub-investment grade with all three major credit rating agencies. AFP/Emmanuel Dunand
JOHANNESBURG - Two credit rating agencies, Moody's and S&P Global, will publish their latest ratings for South Africa on Friday night.
There are fears the two agencies might further downgrade South Africa.
Should that happen, the country will find the cost of borrowing money will increase.
South Africa has a sub-investment grade with all three major credit rating agencies.
This means they regard the country's ability to repay its debt as weak.
South Africa has failed to grow its economy in recent years.
The COVID-19 pandemic has worsened the situation.