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BIESKM
BIESKM - Eskom Holdings Soc Limited - Standard & Poor`s changes Eskom`s
outlook from stable to negative
Eskom Holdings Soc Limited
Standard & Poor`s changes Eskom`s outlook from stable to negative
Friday, 30 March 2012: Following the revision by Standard & Poor`s (S&P) of
the South African Sovereign credit outlook from stable to negative, S&P has
revised the outlook on Eskom`s rating from stable to negative and affirmed
the BBB+ long term rating of the company.
S&P has concluded that Eskom`s stand-alone credit profile should be
maintained, even though Eskom will take longer to achieve cost-reflective
tariffs given the recent announcement by the National Energy Regulator of
South Africa (NERSA) that it had granted Eskom a reduced tariff increase of
16% as opposed to the originally approved 25.9% for the 2012/13 financial
year.
Paul O`Flaherty, Eskom Finance Director said: "We are comfortable with S&P`s
analysis of the challenges facing Eskom and their acknowledgement of the
steps we are taking, with the support of government, to move responsibly
towards more sustainable credit parameters."
ENDS
30 March 2012
Date: 30/03/2012 17:36:40 Produced by the JSE SENS Department.
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