Ratings agency S&P Global says it could lower South Africa’s credit ratings if it sees the country is failing to recover the forecasted rebounded growth. Finance minister Tito Mboweni in the national budget stated that the country’s debt-to-GDP ratio will peak at 88.9 percent in 2023, down from estimates of 95.3 percent six months ago. S&P’s Ravi Bhatia says there is no reason to really expect a big, sustained rebound in the growth trajectory going forward, reports Newsflash. Bhatia added that bailouts to state-owned companies especially Eskom remained a big risk.