Even the DA / EFF managed Johannesburg City Council or the DA-run Cape Town could not do better than the ANC-controlled municipalities and was also downgraded by Moody’s.
After Moody’s had downgraded the South African economy to just over junk status, they downgraded all the leading commercial banks, and also some municipalities, including Johannesburg.
The banks concerned are Standard Bank, FirstRand, Absa, Nedbank, and Investec.
Other instances undergoing Moody’s downgrading are MTN, Sanral, Johannesburg Metro, City Power in Johannesburg; Ekurhuleni metro; Cape Town; Mangaung Metro, Amathole District Municipality, Breedevallei District Municipality, Mbombela Municipality and Rustenburg Municipality.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
