EKURHULENI METRO MUNICIPALITY - Moody's Investor Services repositions Ekurhuleni's Ratings
EMM03 EMM01 EMM02 EMM06 EMM05 EMM04 201605160019A
Moody's Investor Services repositions Ekurhuleni's Ratings
Ekurhuleni Metropolitan Municipality
Established in the Republic of South Africa in terms of section
12(1) of the Local Government: Municipal Structures Act, 117 of
1998, read with Notice No 6768 of 2000 published in Provincial
Gazette Extraordinary No 141 dated 1 October 2000)
Company code: BIEM
(“Ekurhuleni”)
MOODY'S INVESTOR SERVICES REPOSITIONS EKURHULENI'S RATINGS
Noteholders are advised that Moody's Investors Service (“Moody’s”)
has, on 11 May 2016, repositioned Ekurhuleni’s national scale ratings
to Aaa.za from A1.za and assigned a long term rating of Baa2 as well
as a short term rating of P-2, with a negative outlook.
This rating reflects prudent financial management, the quality of the
City governance and the strong economic development of the city, as
an integral part of the Gauteng City Region, being the main
competitive base of South Africa.
Noteholders are referred to the press releases by Moody’s for any
additional information.
16 May 2016
Debt Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 16/05/2016 11:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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