Ekurhuleni Scores Highest Investment Rating on Moody’s
Rating agency Moody’s has awarded ANC run Ekurhuleni the highest investment rating, placing it at Aaa level. The city jumped four places up on a scale as compared from the previous year.
High investment rating means the city will pay lower interest on its loans compared with its counterparts with lower ratings.
“This rating makes it easier for the city to compete in the international bond markets as well as other project finance and investment opportunities to address infrastructure funding,” said city manager, Khaya Ngema.
Moody’s also noted that Ekurhuleni has a golden area of opportunity on it’s industrial base.
The latest ratings fly at the face of the Democratic Alliance as it has always claimed that Cape Town is the best run city in the country.