National Treasury (2025, 14 November). Treasury responds to rating action by S&P Global Ratings. Media statement.
The statement reports the upgrade of South Africa’s long-term foreign currency rating from BB- to BB, the first upgrade by a major agency in over 16 years, and quotes the agency’s reference to “a reduction in contingent liabilities tied to performance improvements” at Eskom. The wiki cites it in South Africa on the Curve as a recovery marker of the Government of National Unity period.