Fitch Ratings affirms Eskom?s 'BB-':
Eskom Holdings SOC Limited
(Registration No. 2002/015527/06)
JSE alpha code: BIESKM
("Eskom")
Fitch Ratings affirms Eskom's 'BB-'
On Monday, 30 September 2019, Fitch Ratings announced its decision to affirm Eskom Long-Term Local
Currency Issuer Default Rating (IDR) of BB- , with a negative outlook. Fitch has simultaneously maintained
the National Long-Term Rating at A(zaf)' and the National Short-Term Rating at F1(zaf)'. The rating
agency has also affirmed the government-guaranteed local currency senior unsecured debt ratings at
BB+', in line with the rating of South Africa (BB+/Stable Outlook).
In their ratings publication, Fitch acknowledges that while Eskom is still faced with financial and
operational challenges; the rating agency views the explicit government support for the company as
positive and a mitigant to Eskom's liquidity challenges.
Eskom's Acting Group Chief Executive, Jabu Mabuza said, "we continue to engage with our shareholder
ministries on feasible options to transition Eskom to financial sustainability. We are grateful for the
support that we've received from the shareholder ministries and all key stakeholders including our
employees in our endeavour to steer this company towards the desired financial and operational
sustainability. We are not complacent and we are aware of how vital Eskom is to ensuring that South
Africa's economic growth targets are achieved, and ensuring security of supply remains one of our key
priorities. We know what needs to be done and our focus is on how we together with our key
stakeholders and shareholder can execute our plans".
Johannesburg
4 October 2019
Debt Sponsor
Nedbank Corporate and Investment Banking
Date: 04/10/2019 12:59:00
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