Ratings agency downgrades credit rating to junk

Embattled Steinhoff’s woes deepened on Friday when  Moody’s Investor Service hit out at its board and slashed the group’s credit rating by four notches to junk.  The group’s ratings were also put under review for further downgrade.  Moody’s said its decision reflects the uncertainties and implications for the company’s liquidity and debt capital structure arising [...]