Low GDP growth, upwardly revised fiscal deficits, and a growing debt burden are damaging South Africa's fiscal metrics. Unless the government takes measures to control the fiscal deficit and we see sustained reform momentum, we view debt as unlikely to stabilize within our three-year forecast period. We are therefore revising our outlook on South Africa to negative from stable. We are also affirming our long- and short-term foreign currency ratings on South Africa at 'BB/B', our local currency ratings at 'BB+/B', and our national scale ratings at 'zaAAA/zaA-1+'. On Nov. 22, 2019, S&P Global Ratings revised its outlook on South Africa to negative from stable. At the same time, we affirmed the 'BB/B' long- and short-term foreign currency sovereign credit
