# The City of Johannesburg has welcomed the decision by Global Credit Rating Company Limited to revise its outlook from negative to stable. The city’s spokesperson, Nkosana Lekotjolo says in July 2023, the city’s outlook was downgraded to negative, following subdued income growth, rising expenditure, and relatively weak collection rates. He says the latest revision marks a significant turnaround, underscoring the positive impact of strong leadership, sound governance, prudent financial management, tighter internal controls, and effective contingency planning.
Johannesburg’s credit rating outlook revised from negative to stable amid infrastructure investments