ESKOM HOLDINGS SOC LIMITED - Fitch places Eskom on Rating Watch Negative (RWN) and affirms Guaranteed debt rating - BIESKM
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Fitch places Eskom on Rating Watch Negative (RWN) and affirms Guaranteed debt rating - BIESKM
Eskom Holdings SOC Limited
JSE Code: BIESKM
Date: 20 November 2017
MEDIA STATEMENT
Fitch places Eskom on Rating Watch Negative (RWN) and affirms Guaranteed debt
rating
Friday, 17 November 2017: Fitch Ratings has placed Eskom’s long-term local currency
Issuer Default Rating (IDR) and unguaranteed local currency senior unsecured ratings of
‘BB+’ on Rating Watch Negative (RWN). The ratings agency has affirmed the government-
guaranteed local currency senior unsecured debt ratings at ‘BB+’ and also placed the
National long-term rating of ‘AAA’ and National short-term rating of ‘F1+’ on RWN.
“We note the decision by Fitch to place Eskom’s IDR on RWN and this reflects the need for
the ratings agency to assess Eskom’s links to the government given weakening liquidity and
funding access. Eskom is confident that the liquidity challenges it faces will be resolved and
the funding initiatives planned until the end of the financial year will alleviate the pressure,”
said Calib Cassim, Acting Chief Financial Officer.
Sean Maritz, Interim Group Chief Executive said: “The support from the Minister to appoint
the remaining board of directors will demonstrate commitment to enhance Eskom’s
corporate governance structure. We remain focused on improving corporate governance to
address liquidity challenges in the near term to avert a downgrade”
ENDS
Eskom Media Desk
Tel: +27 11 800 3304 / 3343
Fax-to-Email: 086 664 7699
Email: mediadesk@eskom.co.za
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