Fitch downgrades Eskom
Ratings agency Fitch Ratings has downgraded State-owned power utility Eskom on the back of weakening liquidity and uncertain capacity to fulfil its short-term financial commitments.
The ratings agency downgraded the parastatal’s long-term local currency issuer default rating and unguaranteed local currency senior unsecured ratings from ‘BB+’ to ‘BB-’.
It also maintained the ratings on Rating Watch Negative and affirmed the government-guaranteed local currency senior unsecured debt ratings at ‘BB+’.
“We take note of the decision by Fitch to downgrade Eskom’s credit rating. We firmly believe the measures being implemented to turn the company around are yielding favourable results,” said Eskom interim group CEO Phakamani Hadebe.
“We are cognisant of the challenges the company is dealing with and we are geared to effectively resolving these challenges and improving Eskom’s operational and financial sustainability.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation