Capitec shares sink after ratings cut
JOHANNESBURG (Reuters) – Shares of South Africa’s Capitec Bank sank more than 5 percent in early trade on Monday after a Moody’s ratings downgrade that cited concerns about the bank’s exposure to risky consumer lending. The ratings agency cut Capitec’s financial strength rating to “D” from “D+” late on Friday and downgraded the bank’s bank deposit rating by two … Read more