SAfrica to rethink nuke deal after junk status

JOHANNESBURG: South Africa’s ruling party on Sunday said the government will have to re-think its costly and highly contentious nuclear expansion programme following last week’s relegation of the country’s creditworthiness to junk.

Within days of each other the world’s two major rating agencies Fitch and Standard & Poor’s downgraded South African sovereign debt to junk status after President Jacob Zuma’s dramatic ministerial shake-up that saw respected finance minister Pravin Gordhan axed.