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South Africa

City of Tshwane in South Africa’s Moody’s Outlook Shifts from Negative to Stable

todayApril 12, 2024 9

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The City of Tshwane in South Africa has greeted an improved outlook from Moody’s Ratings, transitioning from negative to stable. This positive shift comes after a notice last month indicating the city’s rating was under review for a potential downgrade. The development is expected to assist the municipality in stabilizing its finances and accessing capital funding for infrastructure projects. Jacqui Uys, Mayoral committee member for Finance, attributes this positive change to the city’s endeavors in revamping tax administration and submitting audited financial statements, signaling progress in its turnaround plans.

 

Written by: Leonard Witbeen

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