South Africa's credit rating is cut to BBB from BBB+ at S&P, with the outlook remaining...

|By:, SA News Editor

South Africa's credit rating is cut to BBB from BBB+ at S&P, with the outlook remaining negative. The country's mining strikes are likely to have the ANC taking on "more populist elements" heading into 2014 elections, resulting in "amplified spending pressures and reduce(d) fiscal flexibility."