African Arguments (London)-In mid-January while much of the country's business community was still on or returning from summer holidays, Fitch Ratings revised its outlook for South Africa's credit rating to 'negative' from 'stable'. In doing so it seemed to be issuing a 'welcome to 2012' flag on what it thinks will be a period marked by continued policy uncertainty and challenges for the ANC-led government in meeting both its political spending (wage and social payments) commitments and its deficit management targets.
