Moody's Archives - Voice of the Cape

Hill-Lewis welcomes Moody’s move to upgrade Cape Town’s credit rating

Cape Town Mayor Geordin Hill-Lewis welcomed the city's credit rating upgrade by ratings agency Moody's from a stable to a positive outlook. The ratings agency noted the city's proactive revenue collection rate keeping debt levels low. Moody's expects Cape Town's financial performance to strengthen further, exceeding previous forecasts for the next year-and-a-half. Hill-Lewis said the credit rating upgrade affirmed Cape Town as the standout metro for good governance. He said […]

2 July 2024

Local

Cape Town needs up to R12bn to avert future water crises – Moody’s

Cape Town would need between R8bn and R12bn over the next five years for water and sanitation infrastructure to deal with its water crisis properly and avoid future water supply crises, according to a report released by Moody's Investors Service on Monday. The money needed would, therefore, be 95% more compared to the previous five years. According to the ratings agency, the water crisis will have a direct impact on […]

13 March 2018

Local

Ratings agency Moody’s downgrades Steinhoff

International retailer Steinhoff has been downgraded by rating agency Moody’s. The rating agency downgraded Steinhoff to Caa1 corporate family rating which indicates high credit risk. The furniture retailer has 40 different brands in 40 countries. Steinhoff’s share price dropped more than 90% after its CEO reigned in December. It announced that PWC was investigating it for accounting irregularities and its audit results were placed on hold. Its woes seem far […]

29 December 2017

Local

Cpt gets highest possible credit rating from Moody’s

The City of Cape Town has maintained the highest possible credit rating opinion from the ratings agency Moody's. This rating follows closely after the City received its 13 consecutive unqualified audit report. The rating means that the City has the highest possible level of credit quality within the national context, with low debt levels. Mayoral spokesperson Zara Nicholson says the ratings are a positive reflection of the City's financial management […]

8 February 2017

Moody’s

Hill-Lewis welcomes Moody’s move to upgrade Cape Town’s credit rating

Cape Town needs up to R12bn to avert future water crises – Moody’s

Ratings agency Moody’s downgrades Steinhoff

Cpt gets highest possible credit rating from Moody’s

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