South Africa dodges bullet: S&P maintains investment-grade rating

By James Macharia JOHANNESBURG (Reuters) - South Africa held on to its investment-grade credit rating from S&P Global Ratings on Friday, but the rating agency also maintained its negative outlook, citing low GDP growth. S&P left its rating BBB- but warned in a statement that its negative outlook reflects "the potential adverse consequences of low GDP growth" and signals "that we could lower our ratings on South Africa this year or next if policy measures do not turn the economy around.