This is due to its successful management of the extraordinary drought crisis that Cape Town has emerged from.
Global credits rating agency Moody’s has changed its rating of the City of Cape Town municipality from negative to stable due to its successful management of the extraordinary drought crisis that Cape Town has emerged from, according to the report released by the agency on Monday.
“This rating and analysis is great news for Cape Town, its residents, businesses and investors. It shows that the City administration is moving in the right direction to enhance Cape Town’s future resilience while at the same time, it acknowledges that this City, as well as its people, overcame one of the greatest crises in its history,” Neilson said.
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