Ratings agency, Fitch has downgraded Namibia to junk status. The agency rated Namibia’s long term foreign currency issuer default rating to BB+ from BBB-, with a stable outlook. The downgrade of the long-term foreign-currency reflects weaker than forecast fiscal outcomes. The ratings agency also projects that public debt-to-GDP will continue to rise over the medium term. The downgrade also reflects a weaker economic recovery with medium term growth having shifted to a lower level. The government deficit is predicted to narrow to 6% of GDP from 6,9% last year. This is against a revised government target of 5,3%. #BusinessToday will bring you a full analysis of that rating in the course of this week.