Nice surprise could be coming for South Africa

• South Africa is on course for further credit-ratings upgrades over the next year, according to Goldman Sachs Group, due to revenue outperformance.
• The country's corporate tax collections grew 5.5% to R385 billion ($23.3 billion) in June, exceeding projections and contributing to a better-than-expected primary budget surplus of 1.1% of gross domestic product.
• A credit rating upgrade would lift South Africa's rating to BB+ from BB and support its fixed-income instruments, with Moody's and S&P expected to upgrade their ratings over the next year.