City of Johannesburg Metropolitan Municipality

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City of Johannesburg Metropolitan Municipality
  • City of Johannesburg Metropolitan Municipality
  • Year : Oct 2020
3 Tokens
USD 300.00
Summary

GCR downgraded City of Johannesburg Metropolitan Municipality long term issuer rating. The downgrade reflects the weaker operating environment, which is expected to affect the metro’s operating performance. This is counterbalanced by the metro’s improved liquidity position. CoJ’s operating performance has been stable and is considered rating neutral, despite some of the persistent weaknesses.

Additional Information

The Stable Outlook reflects GCR’s expectation that, despite anticipated challenges arising from COVID related disruption and an economic contraction, the metro has sufficient strong income and adequate liquidity sources to maintain its financial profile. Positive rating action could emanate from improved collect on revenues that strengthens the liquidity assessment or enables the metro to reduce debt somewhat

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