Moodys lowers outlook on South African DBSA and IDC to negative.

By bne IntelliNews November 17, 2011
Moody's Investors Service downgraded its outlook on South Africa's two rated development finance institutions, namely Development Bank of Southern Africa (DBSA) and Industrial Development Corporation of South Africa (IDC), to negative from stable, following the recent downgrade of its outlook on the countrys sovereign ratings to negative. The standalone financial strength of both institutions, which are wholly owned by the government, was unaffected, Moodys said. At the end of March 2011, DBSA, headquartered in Pretoria, had total assets of ZAR 47.4bn and IDC, based in Johannesburg, had total assets of ZAR 106.8bn.

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