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From Capitec Bank On 15 August 2014, Moody’s Investor Service (Moody’s) downgraded Capitec Bank’s international deposit ratings to Ba2/NP from Baa3/P-3 and its national scale ratings to Baa1.za/P-2.za from A2.za/P-1.za. All ratings with the exception of the short term No Prime ratings were also placed on further review. The reasons for the downgrade, according to … Read more
Capitec Bank says it has become an unwitting victim of the Abil collapse as global ratings agency Moody’s this evening announced a two notch downgrade of Capitec’s credit rating. The bank’s financial director Andre du Plessis described the Moody’s decision as a “total knee jerk reaction – we had a 30 minute telephone conversation with … Read more