Moody's assigns George Municipality A2.za

Moody's Investors Service said it assigned a national-scale issuer rating of A2.za with stable outlook to the George Municipality in South Africa.

According to the agency, the rating of George reflects a diverse and growing local economic base with good financial management and budget planning.

The rapid growth and development in George, coupled with migration into the municipal area have resulted in certain challenges for the municipality, as it faces high levels of capital investment to expand the infrastructure required to support residential and commercial development, the agency noted.

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