Standard&Poor's has affirmed its sovereign credit ratings on South Africa. The outlook remains negative. The affirmation reflects the sovereign's prudent macroeconomic policies, a moderate debt burden, and stable political institutions. These are balanced by continued high reliance on external portfolio inflows in the context of a significant current account deficit, and severe structural socioeconomic weaknesses. On June 17, 2009, Standard&Poor's Ratings Services affirmed its 'BBB+/A-2' foreign currency and 'A+/A-1' local currency long- and short-term sovereign credit ratings on the Republic of South Africa. The outlook remains negative. (For further information, see the Full Analysis on South Africa published today.) The affirmation reflects the sovereign's prudent macroeconomic policies, a moderate debt burden, and stable political institutions. These
