In 2012 five metros were downgraded by Moody's an international rating agency is expected that other rating agencies such as Fitch SA will follow suit .Required: 1.What are the benefits of rating to municipalities? 2.Provide and explain the common reasons why a rating agencies would downgrade a municipality? 3.What exactly is the implication of downgrading to municipalities? 4.Section 63 and 78 of the MFMA require the Accounting Officer to manage the assets of the municipality including safeguarding and maintenance of the municipal assets. In this regard the Accounting Officer is required to ensure that there is an assets management policy.Briefly evaluate the minimum requirements of such a policy.