Moody's rates Lephalale Baa2.za

Moody's Investors Service said it assigned a national-scale issuer rating of Baa2.za with stable outlook to the Lephalale Municipality in South Africa.

The rating on Lephalale takes into account a moderately diversified local economy and its revenue base that is becoming increasingly dependent on grant funding from the Central government, Moody's said.

Lephalale has a moderate debt burden, the liquidity position was good but the operating balance was negative at the end of the fiscal year, the agency noted.

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