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South African Journal of Economic and Management Sciences

versión On-line ISSN 2222-3436
versión impresa ISSN 1015-8812


FOURIE, Erika; VERSTER, Tanja  y  VAN VUUREN, Gary Wayne. A proposed quantitative credit-rating methodology for South African provincial departments. S. Afr. j. econ. manag. sci. [online]. 2016, vol.19, n.2, pp.192-214. ISSN 2222-3436.

The development of subnational credit-rating methodologies affords benefits for subnationals, the sovereign and its citizens. Trusted credit ratings facilitate access to financial markets and above-average ratings allow for the negotiation of better collateral and guarantee agreements, as well as for funding of, for example, infrastructure projects at superior (lower) interest rates. This paper develops the quantitative section of a credit-rating methodology for South African subnationals. The unique characteristics of South African data, their assembly, and the selection of dependent and independent variables for the linear-regression model chosen, are discussed. The methodology is then applied to the provincial Department of Health using linear regression modelling.

Palabras clave : subnational governments; credit ratings; linear regression; Department of Health; payment behaviour.

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