Moody’s withdraws all scores of SA’s Land Financial institution

Rankings company Moody’s mentioned on Tuesday it was withdrawing all scores of South Africa’s cash-strapped state-owned Land and Agricultural Improvement Financial institution, citing “its personal enterprise causes” for the transfer.

Moody’s didn’t elaborate on why it had taken the choice within the assertion, however coverage paperwork on its web site say enterprise causes, typically refers to Moody’s “enterprise causes, not the enterprise causes of the Rated Entity or obligor”.

“MIS’s (Moody’s) enterprise causes typically don’t mirror any considerations concerning the Rated Entity’s creditworthiness or the standard of its administration,” the coverage reads.

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