S&P affirms Eskom

Standard & Poor's said it affirmed its A- local currency and BBB+ foreign currency long-term corporate credit ratings on Eskom Holdings Ltd.

The outlook is stable.

The agency said that the A- local currency senior secured and BBB+ foreign currency senior unsecured debt ratings were also affirmed.

At the same time, S&P said it assigned its zaAA+ long-term and zaA-1 short-term South Africa national-scale ratings to the company.

S&P noted that the ratings reflect Eskom's critical role in the development of South Africa's economy through its successful electrification program and they also factor in the government's intention to remain supportive of the company's credit quality, strong electricity demand growth, a more supportive regulatory regime and significant financial assets. Government support provides a moderate enhancement to the company's stand-alone credit quality.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.