Hot on the heels of the African Bang implosion and rescue, Moody’s, the aptly named international ratings agency, has downgraded Capitec Bank. Here’s their reasoning and the response from the South African Reserve Bank (SARB): Moody’s Limassol, August 15, 2014 — Moody’s Investors Service has today downgraded Capitec Bank Limited’s (Capitec) deposit ratings to Ba2/NP from Baa3/P-3, and its national-scale issuer ratings to Baa1.za/P-2.za from A2.za/P-1.za. In addition, the rating agency downgraded the bank’s standalone bank financial strength rating (BFSR) to D, equivalent to a ba2 baseline credit assessment (BCA), … Read the full article…