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Consider the gearing ratio of PRASA over thepast 3 years, where 95% of the funding has been through government bonds and bail-outs, totalling R64 billion

Consider the gearing ratio of PRASA over thepast 3 years, where 95% of the funding has been through government bonds and bail-outs, totalling R64 billion by the end of 2018 financial year.

YEAR GEARING RATIO

2016 143%

2017 173.79%

2018 240.2%

Evaluate PRASA's gearing, considering that a majority of debt is from the government?

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