May 25, 2018 / 8:45 PM / a year ago

South Africa's Treasury says escaping "junk" a top priority

JOHANNESBURG, May 25 (Reuters) - The South African government is determined to achieved improved credit ratings, the Treasury said on Friday after S&P Global Ratings affirmed the sovereign’s debt at sub-investment grade ‘BB’/‘BB+’.

“Taking steps to improve business confidence even further, achieving higher economic growth, fast-tracking the (state-owned firms’) reform agenda, and ultimately restoring the country’s investment grade credit rating, remains a top priority,” the Treasury said in a statement. (Reporting by Olivia Kumwenda-Mtambo; editing by John Stonestreet)

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