THE Industrial Development Corporation (IDC) is scheduled to meet with Futuregrowth next week as part of ongoing engagements, while the state-owned development finance institution and the Land Bank have said they were prepared to talk to Moody’s Investors Service after its decision to place them on review for downgrade.The ratings agency said on Wednesday it had put the foreign-currency, long-term debt of the Development Bank of Southern Africa (DBSA), the IDC and Land Bank on review for downgrade, which followed third parties’ increased "risk aversion" to the companies owing to governance concerns. Moody’s is also looking at the Land Bank’s local currency debt because of the increased risk of funding and liquidity challenges.The IDC’s Mandla Mpangase said on Thursday that its governance processes were sound."In relation to the funding and liquidity, we believe we have enough processes to address their [Moody’s] discomfort," he said."We will engage with them to address any other con...
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