Ratings agency says city’s cash and short-term investment declined from R2.2bn in June 2020 to R1.1bn in February 2021The decision by the cash-strapped City of Tshwane to hike workers’ salaries by 6.25% in 2020 is among the factors that led to Moody’s Investors Service downgrading the metro’s credit ratings again this week.
The ratings agency downgraded the metro’s long-term global scale issuer rating to B1 from Ba3 and maintained the negative outlook. It also downgraded the city’s long-term national scale issuer rating by five notches to Baa2.za from Aa3.za, which is three notches above the country’s sovereign rating of Ba2...
mntungwa_ka Zuma we were getting downgraded every two minutes 😂😂and enca would discuss it for hrs now kuthulekile
This downgrading is not even in the news of white media space
Oh my gawd 🙆🏼♂️
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