Telkom has received a downgrading by rating agency Standard & Poor's from BBB to BBB-.
Portugal is successfully implementing a series of fiscal reforms that are key to gaining continued international financial assistance.
Standard & Poor's decision to lower France's credit rating will help outsiders in the presidential election, making it bad news for Nicolas Sarkozy.
Credit rating agency Standard & Poor's on Friday downgraded the US credit rating for the first time since 1917.
A bitter divide remained in the US before Tuesday's deadline to raise the country's debt ceiling, to avoid a crippling default.
Standard & Poor's cut the outlook for South African ratings to negative from stable on Tuesday on concerns about a large current account deficit.