Credit ratings agency Moody's has upgraded the Nelson Mandela Bay metro's creditworthiness to AA1.This means the municipality has a very strong capacity to meet its financial commitments.
Mayor Danny Jordaan mentioned this, and several other achievements during his State of the Metro address yesterday.
He didn't shy away from remaining challenges, like improving service delivery and the metro's high crime and unemployment rates.
Metro spokesperson Kupido Baron says the credit rating improvement will attract more investment and boost the municipality's capacity to deliver.
“Job creation, as well as bringing hope to the city, because investors don’t just bring jobs they also bring vision and with it hopefully a long-term relationship with the institution (sic).”
VIA - ewn.co.za
PORT ELIZABETH - NELSON MANDELA BAY'S CREDITWORTHINESS UPGRADED BY MOODY'S
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