CITY OF EKURHULENI METROPOLITAN MUNICIPALITY - BIEM - Credit Rating Review Extension

BIEM - Credit Rating Review Extension

CITY OF EKURHULENI METROPOLITAN MUNICIPALITY
Established in the Republic of South Africa in terms of section 12(1) of the Local Government: Municipal
Structures Act, 117 of 1998, read with Notice No 6768 of 2000 published in Provincial Gazette
Extraordinary No 141 dated 1 October 2000)
Company code: BIEM

CREDIT RATING REVIEW EXTENSION

Noteholders are advised that GCR Ratings (GCR) has placed City of Ekurhuleni Metropolitan Municipality's
national scale long and short-term Issuer ratings of BBB(ZA) and A3(ZA) respectively, Negative Outlook, on
'Review Extension'. The rating process is ongoing and GCR expects to release the updated rating results by 31
May 2025. The ratings assigned in the last review are still in effect and remain unchanged until the review process
is completed.

The full rating report is available on GCR's website at:

https://gcrratings.com/announcements/gcr-places-city-of-ekurhuleni-metropolitan-municipalitys-
ratings-of-bbbza-a3za-negative-outlook-on-rating-review-extension/

Ekurhuleni
02 May 2025

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

Date: 02-05-2025 09:45:00
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