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.
Moody's downgrades four top South African banks
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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