IDC is managing risks after Moody’s downgrade
SOEs will find it harder to raise funds as the government’s ability, and willingness, to prop up state entities weakens
02 July 2020 - 14:16
The Industrial Development Corporation (IDC) is watching its liquidity closely and managing any risks that may arise from its most recent credit rating downgrade, the state-owned development finance institution told Business Day.
The lender, which is geared to support industrial development, was downgraded along with the Development Bank of Southern Africa (DBSA) by Moody’s Investors’ Services last week, because the agency believes it less likely that the government would be able to support either entity if they ran into difficulty...
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