EKURHULENI METRO MUNICIPLALITY - Ekurhuleni Metropolitan Municipality (Ekurhuleni) long-term issuer and debt ratings downgraded to Aa3.za

Ekurhuleni Metropolitan Municipality (“Ekurhuleni”) long-term issuer and debt ratings downgraded to Aa3.za

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)

Bond Issuer Code: BIEM

Ekurhuleni Metropolitan Municipality (“Ekurhuleni”) long-term issuer and debt ratings
downgraded to Aa3.za, with negative outlook; short term issuer rating of P-1.za affirmed

On 1 October 2012, Moody’s Investor Service downgraded the long term ratings of 13 South African
sub-sovereign issuers, including the Ekurhuleni. The action was prompted by the recent Moody’s
downgrade of South Africa’s government bond rating to Baa1 from A3.

Despite the ratings downgrade to Aa3.za, Ekurhuleni maintains a credit rating that is at the high end
of all municipalities rated by Moody’s in South Africa

Moody’s announcement is available on www.Moodys.com

5 October 2012

Debt sponsor
Absa Capital
(the investment banking division of Absa Bank Limited, affiliated with Barclays)

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