Moody’s might cut South African banks

Moody's Investors Service said it placed the Baa2 foreign-currency long-term senior unsecured issuer ratings of the Industrial Development Corp. of South Africa and the Development Bank of Southern Africa on review for downgrade.

These actions follow the potential weakening of the South African government's credit profile, as captured by Moody's recent decision to place South Africa's Baa2 government bond rating on review for downgrade.

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