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Moody’s Puts 5 South African State Firms on Downgrade Review
Johannesburg, Capital Markets in Africa: Moody’s Investors Service has placed five South African state-owned companies on review for a downgrade due to concerns about governance and the political environment. The foreign currency long-term issuer ratings of Eskom Holdings SOC Ltd., the Development Bank of Southern Africa, Industrial Development Corp., the South African National Roads Agency Ltd. and the Land and Agricultural Development Bank were all placed on review for downgrade, the rating company said in separate statements Wednesday. Eskom’s rating…
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