S&P affirms South Africa's investment grade credit rating

S&P Global Ratings on Friday affirmed South Africa's investment-grade credit rating and kept its negative outlook, pushing the rand higher. S&P affirmed the rating on the sovereign debt of Africa's most industrialised country at BBB-, but warned that the outlook remained negative, reflecting the potential adverse consequences of low GDP growth. "The outlook remains negative, reflecting the potential adverse consequences of low GDP growth and signalling that we could lower our ratings on