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Fitch Rating For South Africa

Hello all, hope we are all having a good week so far? It seems like the week for good news, just keep it coming....the 3rd ratings agency, Fitch, released it credit report today and it too did not downgrade SA, such good news. Once again the Rand benefited from this news. It opened at R14.91 agsint the US$ and briefly touched R14.99 when the 1st quarter growth results for SA came out (which was lower than anticipated) and recovered to one stage at R14.47.

Currently trading at around R14.60. Once again think about where the Rand would have been had both S&P and Fitch downgraded SA to junk....R17/R18/R20......The big issues that need to be dealt with in the next 6 months are the small growth in GDP and political concerns. Sort that out and SA can look towards a bright financial future, which will help everybody.. here's hoping and praying....Well hopefully my next report will also have a positive edge....your friendly tax helper.

Andrew Trojnar.

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