Capitec paid Moody’s for a rating - CNBC Africa

Capitec paid Moody’s for a rating


by CNBC Africa 0

Moody's cuts S.African Capitec Bank financial strength rating to D. PHOTOS: eastrandmall/Moody's

The bank’s CEO Gerrie Fourie told CNBC Africa’s Power Lunch show that it paid Moody’s about 1 million rand (100,000 US dollars).

He expressed his frustration at the assessment and says he has asked the rating agency to reassess its position when the bank releases its results next month.