South Africa Rating Outlook Reduced by Fitch on Slow Growth

South Africa’s credit-rating outlook was cut to negative by Fitch Ratings as stagnating growth curbs job creation and curbs the government’s ability to manage its deficit. The rand erased gains made so far this year.

Fitch, which lowered the outlook from stable, affirmed the BBB+ foreign-currency credit rating for Africa’s biggest economy, it said in an e-mailed statement today. The assessment is the third-lowest investment grade on its rating scale.