President Jacob Zuma has congratulated government‚ business‚ labour and all South Africans after three major credit rating agencies kept South Africa’s sovereign debt credit rating status above junk status.

S& P Global Ratings on Friday evening held SA’s foreign currency sovereign credit rating at BBB-‚ the lowest investment-grade rating‚ and kept its outlook negative.

S& P was the last of the big three agencies to make an announcement in this round of rating reviews‚ and was the most important as it was the only agency that had SA’s foreign currency rating one notch above junk with a negative outlook — meaning it was the most likely to downgrade SA to junk.

A week ago Fitch kept its BBB- rating on SA‚ but changed its outlook from stable to negative. Moody’s issued a research report instead of a rating decision — in effect maintaining the rating‚ at two notches above junk with a negative outlook‚ without actually affirming it.

But it issued a warning to SA to get its messy politics sorted out.

Responding to the S& P decision on Saturday‚ Zuma said in a statement: “We congratulate Team South Africa particularly government‚ business and labour for ensuring that the country’s sovereign debt credit rating status is not downgraded to junk status. Unityin action and hard work have paid off against a very volatile global economic climate.

“Working together as government‚ business and labour we can overcome the current economic challenges and we must continue working hard and creatively to reignite growth so that jobs can be created for our people.”

Zuma assured international investors that South Africa remained an important and strategic investment destination.