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BofA, BNP see South Africa rating upgrade after budget
BofA, BNP see South Africa rating upgrade after budget
South African Finance Minister Enoch Godongwana is expected to signal the country's commitment to fiscal discipline on Wednesday, with its debt-to-GDP ratio set to decline for the first time in more than two decades — potentially paving the way for a credit-rating upgrade as soon as next month.
Four of 11 economists surveyed by Bloomberg, including those at Bank of America, Morgan Stanley, BNP Paribas SA and Old Mutual, anticipate an upgrade by year-end, while the rest see it coming in 2027.
Moody's Ratings' and S&P Global Ratings' next…
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