Moody’s dumps Land Bank as it fails to restructure debt

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The Land and Agriculture Development Bank of SA missed its March 31 deadline to conclude its debt restructuring plan with lenders. Picture: Johan Norval
The Land and Agriculture Development Bank of SA missed its March 31 deadline to conclude its debt restructuring plan with lenders. Picture: Johan Norval

BUSINESS

Last April, the bank defaulted on some of the R50 billion in debt repayments and began negotiating new repayment terms.

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