The City's credit rating
Every year the Treasury Department appoints an independent agency to give the City a credit rating. The agency does this by analysing the City’s key financial, operational and organisational data, and by conducting interviews with the Executive Mayor, the City Manager and senior City officials.
The City’s current ratings
The City needs a credit rating to demonstrate its ability to meet its short- and long-term financial obligations. Potential lenders also use it to assess the City's credit risk, which in turn affects the pricing of any subsequent loans taken.
The City’s current ratings from Moody’s Investors Service are as follows:
- Long-term debt rating – Aa2.za
- Short-term issuer rating – P-1.ZA
Moody’s credit opinions
For further insight into the City’s credit rating, please read or download Moody’s credit opinions below:
2026
Moody's Credit Opinion: May 2026 (Updated Outlook)
Moody's Credit Opinion: May 2026
2025
Moody's Credit Opinion: May 2025
2024
Moody's Credit Opinion: July 2024
2023
Moody's Credit Opinion: June 2023
2022
Moody's Credit Opinion: August 2022
Moody's Credit Opinion: April 2022
2021
Moody's Credit Opinion: November 2021
Moody's Credit Opinion: July 2021
Moody's Credit Opinion: June 2021
2020
Moody's Credit Opinion: December 2020
Moody's Credit Opinion: April 2020
Moody's Credit Opinion: March 2020
2019
Moody's Credit Opinion: November 2019
Moody's Credit Opinion: March 2019
2018
Moody's Credit Opinion: March 2018
Moody's Credit Opinion: February 2018
2017
Moody's Credit Opinion: December 2017
Moody's Credit Opinion: June 2017
Moody's Credit Opinion: January 2017
2016
Moody's Credit Opinion: July 2016
Moody’s Credit Opinion: February 2016
2015
Moody’s Credit Opinion: February 2015
2014
Moody’s Credit Opinion: November 2014
Moody's Credit Opinion: February 2014
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