Fitch Says South Africa Rating to Stay Above Junk If It Cuts

South Africa’s credit rating will remain above junk if Fitch Ratings downgrades the nation’s debt in June, a senior official of the company said.

Fitch will lower the rating by only one level if it decides to reduce it on June 5, Richard Fox, head of sovereign ratings for Middle East and Africa, told reporters on Tuesday in Johannesburg. Weak economic growth is weighing on the rating, he said.