South Africa's political uncertainty, reform of state firms a concern: S&P

JOHANNESBURG (Reuters) - The slow reform of South Africa's state-owned firms and the upheaval swirling around the finance minister pose risks to the country's investment grade credit rating, an executive from Standard & Poor's said on Thursday. "We have said before that we take comfort from the targets set by the National Treasury. But the political turmoil and pressures (around Finance Minister Pravin Gordhan) are certainly of concern," said S&P's MD for sub-Saharan Africa Konrad Reuss on the sidelines of a banking conference in Johannesburg. S&P's analysts left South Africa's BBB- rating on a 'negative' outlook in June. (Reporting by Mfuneko Toyana; Editing by Tiisetso Motsoeneng)