Rating agency Moody’s has downgraded the City of Tshwane’s baseline credit assessment by one notch from Ba1 to Ba2 with a sustained negative outlook for the city. Newsflash reports that Moody’s attributed the downgrade to the city’s weakened operating performance and liquidity. This after Tshwane had one of the lowest municipal revenue collection rates at 81.4-percent, for the 2020 financial year. The average is 87-percent. The DA’s Randall Williams says the downgrade is due to the wasteful expenditure of municipal funds.