CITY OF EKURHULENI METROPOLITAN MUNICIPALITY - Credit Rating Announcement - BIEM

Credit Rating Announcement - BIEM

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. Outlook has been revised to negative.

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

GCR revises the Outlook on City of Ekurhuleni Metropolitan Municipality's National Scale Issuer Rating of
BBB(ZA) to Negative, due to the deterioration in the Audit outcome and other governance concerns –
GCR Ratings

Ekurhuleni
19 May 2026

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

Date: 19-05-2026 05:10:00
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