{"id":145881,"date":"2016-12-06T09:49:38","date_gmt":"2016-12-06T07:49:38","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=145881"},"modified":"2016-12-06T09:49:38","modified_gmt":"2016-12-06T07:49:38","slug":"moodys-affirms-eskom-credit-rating-at-negative","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/145881\/moodys-affirms-eskom-credit-rating-at-negative\/","title":{"rendered":"Moody’s affirms Eskom credit rating at negative"},"content":{"rendered":"
\n
\n

Moody\u2019s Investor Services has affirmed Eskom\u2019s credit rating, assigning it to a national scale rating of A2.za.<\/p>\n<\/div>\n<\/div>\n

\n
\n
\n
\n
\n
\n

\u201cMoody\u2019s has today affirmed Eskom\u2019s Ba1 senior unsecured and senior unsecured medium term notes\u2019 ratings. The rating agency has simultaneously assigned to Eskom a national scale rating of A2.za,\u201d said Eskom in a statement on Monday.<\/p>\n

The outlook on both the ratings is negative.<\/p>\n

Eskom\u2019s Chief Financial Officer Anoj Singh said the entity is encouraged by Moody\u2019s decision.<\/p>\n

\u201cWe are encouraged by Moody\u2019s decision to affirm Eskom\u2019s credit ratings. \u00a0We view this action as evidence that we have made major strides in ensuring a secure electricity supply and in improving the company\u2019s financial profile, thereby enabling us to continue with timeously executing the required funding for the completion of the current build programme,\u201d said Singh.<\/p>\n

In its statement, the rating agency cited the power utility\u2019s continued successful access to funding with the support of the R350 billion Guarantee Framework Agreement (GFA) provided by government, and the company\u2019s stabilised operational performance as the rationale for their affirmation.<\/p>\n

Due to improved operational performance, Eskom has not implemented load-shedding since August 2015.<\/p>\n

In September 2016, Moody\u2019s placed Eskom on review for downgrade. That, however, has been revised to a negative outlook, indicating the potential for the company\u2019s outlook to be revised to stable in the event that government approves Eskom\u2019s request to extend the utilisation period of the GFA currently scheduled to expire on 31 March 2017. This process is currently underway, said the power utility.<\/p>\n

Read: Matshela Koko named acting CEO of Eskom<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investor Services has affirmed Eskom\u2019s credit rating, assigning it to a national scale rating of A2.za.<\/p>\n","protected":false},"author":33,"featured_media":90912,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[25,1164],"class_list":["post-145881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-active","tag-eskom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/145881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=145881"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/145881\/revisions"}],"predecessor-version":[{"id":145883,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/145881\/revisions\/145883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/90912"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=145881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=145881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=145881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}