Moody’s downgrades top four SA banks

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Moodys REUTERS Moodys.

Johannesburg - 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. - Sapa-AFP



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