A new credit rating agency focused on emerging markets says South Africa’s economy is not ‘junk’, giving it an investment grade rating with a stable outlook. The new Gauteng-based agency, Sovereign Africa Ratings (SAR), launched its inaugural review of the country this week, aiming to provide an additional opinion on South Africa’s creditworthiness compared to the ‘big three’ agencies – Fitch Ratings, S&P Global and Moody’s Investors Service – which make up 95% of the sector. In this conversation, we look at the role and assessment of rating agencies and the work of South Africa’s “Sovereign Africa Ratings”.