Eskom Holdings SOC Ltd received a ‘B’ rating from Fitch.
AAA is the highest rating and D, the lowest, assisting investors in assessing default risks.
‘B’ reflects a Stable Outlook.
Fitch rated Long-Term Local- Currency Issuer Default at ‘B’ as well as Eskom’s Recovery Rating of ‘RR4.’
Senior unsecured guaranteed debt was rated a ‘BB-’.
Fitch has also maintained Eskom’s Standalone Credit Profile at ‘ccc+’.
Dan Marokane, Eskom Group Chief Executive, said “we remain singularly focused on delivering the turnaround plan that is central to continuing to restore Eskom’s operational and financial stability. Reaching the milestone of one year without loadshedding on Saturday, 16 May advances this stability, as well as the South African and Sub- Saharan Africa economy, competition and the integration of renewable energy.”
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