June 2 (Reuters) - S&P Global Ratings:
* South Africa ratings affirmed; outlook remains negative
* S&P on South Africa - affirming ‘BB+/B’ foreign currency, ‘BBB-/A-3’ local currency, and zaAA-/zaA-1 national scale ratings on South Africa.
* says pace of economic growth remains weak, posing risks to pace of fiscal consolidation, with rising contingent liabilities
* negative outlook on foreign and local currency ratings reflects view that political risks will remain elevated this year
* South Africa faces reduced predictability of future policy responses, due to moderate risk of challenges to political institutions
* consider South Africa's monetary flexibility, and its track record in achieving price stability, to be important credit strengths Source text (bit.ly/2sxupbR)