Moody’s Investors Service has raised the red flag on the Land Bank, placing it on review for downgrade due to its deteriorating stand-alone credit profile, the agency said on Tuesday.
This is a step more aggressive than the Moody’s warning on SA’s sovereign rating last Friday in which the agency changed the outlook from stable to negative. While this normally implies a 12- to 18-month window before the next rating action, negative watch means an entity usually has 30-90 days before a determination is made...
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