Moody's early Wednesday cut its debt rating on Austria's three biggest banks - Erste Bank, Raiffeisen Bank International (RBI) and Bank Austria, an offshoot of Italy's UniCredit group.
The move was largely due to their exposure to the financial crisis in eastern Europe.
The ratings agency said in a statement that Erste Bank and RBI were strongly exposed in eastern Europe, notably in Hungary and Romania, while the downgrade of Bank Austria was justified by the precarious situation of its Italian mother-group.
Erste Bank was downgraded by two notches while the others went down by one notch. Prospects for Erste and Bank Austria were "negative" while RBI was put at "stable".
Burger King aims to take "a big chomp" out of SA’s R17-billion fast-food market, GPI's chairperson said.
Gauteng has commissioned studies to explore the feasibility of extending the Gautrain rail service.
Anglo American Platinum is planning to slash 6000 jobs in its restructuting process, it said.
