CITY OF CAPE TOWN METR MUNICIPALITY - Moody's Recalibrates South Africa's National Scale Ratings and Repositions National Scale Ratings of Sub-Sovereigns

Moody's Recalibrates South Africa's National Scale Ratings and Repositions National Scale Ratings of Sub-Sovereigns

   THE CITY OF CAPE TOWN
   (A Municipality in terms of Section 155 of the Constitution of
   the Republic of South Africa, duly established by notice in the
   Provincial Notice 479/2000 dated 22nd September 2000, of the
   Western Cape, pursuant to Section 12(1) and Section 14(2) of the
   Local Government: Municipal Structures Act, 1998 (Act 117 of
   1998) as amended)
   Instrument Code:    CCT01   ISIN: ZAG000054982
   Instrument Code:    CCT02   ISIN: ZAG000068719
   Instrument Code:    CCT03   ISIN: ZAG000075995
   (“CCT”) or (“the Municipality”)



Moody's Recalibrates South Africa's National Scale      Ratings   and
Repositions National Scale Ratings of Sub-Sovereigns

Noteholders are advised that Moody's Investors Service (“Moody’s”)
has repositioned the national scale ratings (NSRs) of 16 South
African sub-sovereign issuers in conjunction with the recalibration
of the South African national rating scale. In addition, Moody's has
publically assigned global scale ratings (GSRs) to 15 issuers.

As a result of this recalibration, Moody’s has stated that the City
of Cape Town has been assigned a Baa2/Prime-2 global scale issuer
and debt ratings. This rating reflects the city’s good budgetary
performance, strong liquidity position and moderate debt levels. The
financial position of the city is supported by the administration’s
prudent financial policies and it’s relatively large and diversified
economic base.

More details of the revised rating methodology are available through
Moody’s website on:

www.moodys.com


   Cape Town
   16 May 2016

   Debt Sponsor
   The Standard Bank of South Africa Limited

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