Moody's downgrades Tshwane as ANC administrators lead capital to financial ruin
24 September 2020
Moody’s credit agency has announced that the City of Tshwane will be downgraded by one notch as a long-term issuer from Ba1 to Ba2 with a sustained negative outlook for the City.
This decreased credit rating is a direct result of the ANC’s unlawful coup in the City and the imposition of incompetent ANC administrators who have mismanaged the City’s finances.
Moody’s has indicated that the downgrade is as a result of the city’s weakened operating performance and liquidity.
The City of Tshwane has recorded one of the lowest revenue collections rates for 2020 at 81.4%.