BofA, StanChart See Upgrade to South Africa Outlook After Budget

Finance Minister Enoch Godongwana will this week outline improvements in South Africa’s public finances that pave the way for a sovereign credit-rating outlook upgrade, a Bloomberg survey shows.

Six of the nine economists canvassed — including those at Bank of America Corp. and Morgan Stanley — expect Fitch Ratings to revise its outlook to positive at its next review. Four predict a similar move by Moody’s Ratings. Standard Chartered Plc, which responded after the survey closed, expects both Fitch and Moody’s to shift to a positive outlook.