Moody’s cuts DBSA, IDC

Moody's Investors Service said it downgraded the corporate family ratings and long-term foreign-currency issuer ratings of the Development Bank of Southern Africa and the Industrial Development Corp. of South Africa to Ba3 from Ba2.

The downgrades of these government-related issuers follow Moody's downgrade of the government of South Africa rating to Ba2 from Ba1, with a negative outlook, on Friday, the agency said.

The outlook on both issuers remains negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.