King Cetshwayo District Municipality

Image placeholder
King Cetshwayo District Municipality
  • King Cetshwayo District Municipality
  • Year : Jun 2019
3 Tokens
USD 300.00
Summary

The rating on King Cetshwayo District Municipality (‘KCDM’) reflects the relatively strong South African sector score for local authorities, combined with the entity’s very low gearing and strong liquidity, which offsets the inherent weakness in KCD’s entity profile.

Additional Information

Rating triggers

Positive rating action is unlikely as it would depend on a material improvement in the financial position of the district and its residents. Alternatively, a change in mandate that allows KCDM to broaden its scope of operations and successfully diversify income sources could also support a higher business profile score.

Negative rating action could arise if KCD’s financial position were to deteriorate significantly due to a material increase in debt or a large decrease in cash holdings. The rating may also be negatively impacted if the ‘Qualified’ audit opinion persists.

Related Publication

eThekwini Municipality (2016-12)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

King Cetshwayo District Municipality

The rating on King Cetshwayo District Municipality (‘KCDM’) reflects the relatively strong South African sector score for local authori...

Short Term Insurance Industry Compendium - Sub-Saharan Africa

This introduces GCR Ratings (“GCR”) first Short Term Insurance Compendium for Sub-Saharan Africa. In this publication, GCR provides a b...

Available Purchase Options: