Why S&P downgraded South Africa's outlook to negative
South Africa runs the risk of sliding deeper into junk status. Moody's, Fitch and now S&P Global also has the country's credit rating outlook on negative. S&P which already has the country's overall credit rating at junk status foresees a rapid worsening of the country's debt metrics on account of tepid GDP growth, upwardly revised fiscal deficits and the rising government debt burden. Ravi Bhatia, Director of Sovereign Ratings at S&P Global shared his perspective on the decision and what it may take to revise the outlook back to stable with Business Day TV.