South Africa Wins First Fitch Upgrade in 21 Years as Fiscal Discipline Pays Off
Fitch lifted South Africa from BB- to BB on June 5, its first upgrade in 21 years, rewarding four years of fiscal surpluses and bringing the country a notch closer to investment grade. The post South Africa Wins First Fitch Upgrade in 21 Years as Fiscal Discipline Pays Off appeared first on The Rio Times .
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Southern Africa Africa South Africa Wins First Fitch Upgrade in 21 Years as Fiscal Discipline Pays Off By Diego Fernández · June 14, 2026 · 5 min read Daily Brief The morning intel from across Latin America. Free. Subscribe By subscribing you agree to our privacy policy. We never share your email. South Africa · Markets Key Facts —First in 21 years: Fitch raised South Africa’s long-term rating from BB- to BB on June 5, 2026, its first upgrade for the country since 2005. —Why it happened: The agency cited primary budget surpluses averaging about 1% of GDP over four years, alongside stronger revenue collection and spending discipline. —One step closer: BB sits two notches below investment grade, leaving Pretoria nearer the threshold that unlocks a far wider pool of global capital.
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