CITY OF EKURHULENI METROPOLITAN MUNICIPALITY - BIEM: Credit Rating Announcement

BIEM: Credit Rating Announcement

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
("City of Ekurhuleni" or the "Issuer")

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that GCR Ratings (GCR) has affirmed the national scale long and short term issuer
ratings assigned to City of Ekurhuleni at BBB(ZA) and A3(ZA) respectively. The Outlook has been maintained on
Negative.
The full rating report is available on GCR's website at:
https://gcrratings.com/announcements/gcr-affirms-the-city-of-ekurhuleni-metropolitan-municipalitys-rating-
of-bbbza-the-ratings-remain-on-negative-outlook-given-ongoing-financial-constraints-and-weak-liquidity/


Ekurhuleni
17 April 2024

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

Date: 17-04-2024 11:40:00
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