S&P maintains Eskom's CCC+ credit rating
Standard & Poor’s on Thursday maintained Eskom's foreign and local currency long-term credit ratings at CCC+, below sub-investment status.
The rating agency also affirmed Eskom’s ‘zaB’ and ‘zaB’ long and short-term national scale ratings.
The decision was announced a day after Eskom posted its interim results for 2018-19, with chairman Jabu Mabuza stating that the company remains locked in a loss-making situation.
Eskom's newly appointed chief financial officer Calib Cassim said the power utility was encouraged by the ratings agency's decision to affirm its ratings and viewed it as a further sign of improving sentiments towards Eskom as management seeks to steer it towards stability.
"While Eskom’s financial and operational performances have deteriorated, the company’s liquidity levels have improved significantly from what they were at the same time last year. Standard & Poor’s sentiment and rationale remain consistent with other ratings agencies and the affirmation is evidence of the slight shift in sentiment by the rating agencies," the company said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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