DA welcomes Moody’s move to upgrade Cape Town’s credit rating

The Democratic Alliance (DA) has lauded the City of Cape Town for its recent credit rating upgrade by Moody’s, saying it was a testament to the city’s robust financial management and dedication to effective service delivery.

This follows Moody’s Investor Services placing the city on a ‘positive outlook’ in July 2024, with the credit rating upgrade confirmed on 2 May 2025.

Moody’s commended the city for its exemplary governance and ambitious infrastructure plans, highlighting substantial investments in water, electricity, transport, and roads.

Notably, 75% of these investments are earmarked to benefit lower-income households, with an anticipated creation of 130,000 jobs over the next three years.

“The city plans to diversify water sources and upgrade infrastructure. Cape Town will invest ZAR23 billion in infrastructure over the next two years to enhance resilience. These initiatives aim to address vulnerabilities that caused the previous rating downgrade. We expect its debt metrics to remain