Moody’s could cut eight South African corporates

Moody's Investors Service said it placed all the global scale ratings assigned to the following eight South African corporates under review for downgrade: Barloworld Ltd., Fortress REIT Ltd., Hyprop Investments Ltd., Imperial Group Ltd., Redefine Properties Ltd., Telkom SA SOC Ltd. and Bidvest Group Ltd.

Moody’s said the actions follow the weakening of the South African government's credit profile, as captured by Moody's decision to place the sovereign ratings under review for downgrade on Nov. 24.

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