Key facts
- Fitch Ratings upgraded South Africa's credit rating.
- This is the first upgrade for South Africa since 2005.
- The upgrade reflects prudent fiscal management.
- Progress was noted despite weak economic growth and shocks.
Fitch Ratings has upgraded South Africa's credit rating, marking the first such upgrade for the country since 2005. The agency cited South Africa's record of prudent fiscal management as a key factor in its decision. This progress has been achieved despite the nation facing weak economic growth, as well as various domestic and external shocks.