CREDIT RATING AND SECOND PARTY OPINION FOR THE CITY OF CAPE TOWN

In short

The City requires a credit rating to demonstrate its ability to meet its short and long-term financial obligations, used by potential lenders to assess credit risk and as a measurement of good governance and sustainability. The City also requires a specific debt issue rating to provide confidence to potential investors in its loans/bonds. Additionally, an external reviewer is needed to provide a second party opinion to confirm the alignment of core components of Green/Social/Sustainability-linked bond principles with ICMA standards.