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Bumpy ride ahead after downgrade

Ratings agency Moody's downgrade of five metropolitan municipalities is bad news for residents. The agency downgraded the Johannesburg, Cape Town, Ekurhuleni, Nelson Mandela metro and uMhlathuze municipalities to junk status on Friday.

Moody's said the downgrades were because of liquidity concerns, "as a result of material shortfalls in revenue collection" regarding extremely weak growth...

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