Moody’s Investors Service has joined other ratings agencies and withdrawn all of its ratings on Edcon. Earlier in February, S&P Global also announced that it had withdrawn its ratings on Edcon, after downgrading the group’s long-term corporate credit rating to default. In a statement released on Monday, Moody’s said Edcon’s capital restructuring would short investors on what the company had initially promised them.

Source: Moody’s withdraws all its ratings on Edcon