Moody's downgrades 4 top South African banks
Arab Today
Moody's on Tuesday downgraded the credit rating of four top South African banks, after the government was forced to bailout a troubled lender.
In a statement, the ratings agency said it had downgraded Standard Bank, Absa, FNB and Nedbank by one notch to Baa1, in a move sure to raise more questions about the health of the vital sector.
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