{"id":15540,"date":"2012-10-13T05:52:04","date_gmt":"2012-10-13T03:52:04","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-sp-downgrades-south-africa-cites-mining-strikes-social-tension\/"},"modified":"2012-10-13T05:52:04","modified_gmt":"2012-10-13T03:52:04","slug":"update-1-sp-downgrades-south-africa-cites-mining-strikes-social-tension","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-sp-downgrades-south-africa-cites-mining-strikes-social-tension\/","title":{"rendered":"UPDATE 1-S&amp;P downgrades South Africa, cites mining strikes, social tension"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">NEW YORK<\/span> Oct 12 (Reuters) &#8211; Standard  Poor&#8217;s on Friday cut<br \/>\nSouth Africa&#8217;s credit rating one notch to BBB with a negative<br \/>\noutlook, saying mining strikes and social tension could reduce<br \/>\nfiscal flexibility and hurt growth.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We expect underlying social tensions may result in<br \/>\namplified spending pressures and reduce fiscal flexibility for<br \/>\nthe government,&#8221; SP said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>In particular, the ratings agency said mining strikes could<br \/>\ninfluence political debate ahead of 2014 elections and &#8220;may<br \/>\nincrease uncertainties related to the African National Congress&#8217;<br \/>\nfuture policy framework.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>SP&#8217;s downgrade from BBB-plus takes it one notch below both<br \/>\nMoody&#8217;s Investors Service&#8217;s Baa1 rating with a negative outlook<br \/>\nas well as Fitch Ratings&#8217; BBB-plus rating, also with a negative<br \/>\noutlook.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The negative outlook reflects our view that the medium-term<br \/>\npolitical, economic and fiscal ramifications of South Africa&#8217;s<br \/>\nsocial tensions could deteriorate beyond our current<br \/>\nexpectations,&#8221; SP said.<\/p>\n<p><span><\/span><\/p>\n<p>SP added that it sees South African growth softening to<br \/>\naround 2.5 percent in 2012 and the budget deficit increasing to<br \/>\nat least 5.1 percent of output.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK Oct 12 (Reuters) &#8211; Standard Poor&#8217;s on Friday cut South Africa&#8217;s credit rating one notch to BBB with a negative outlook, saying mining strikes and social tension could reduce fiscal flexibility and hurt growth. &#8220;We expect underlying social tensions may result in amplified spending pressures and reduce fiscal flexibility for the government,&#8221; SP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15540","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15540"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15540\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}