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South Africa Credit Rating Downgrade Could Happen Friday

South Africa Credit Rating Downgrade Could Happen Friday

At least one of two global credit ratings agencies are expected Friday to downgrade South Africa’s credit rating, SABCDigital News reports.

Standard and Poor’s and Fitch are scheduled to release updated sovereign credit ratings for the country.

They already have South Africa on a negative watch, according to a SABC video. A rating cut could further hurt South Africa’s growth prospects, an analyst said.