S&P mulls ratings upgrade for Eskom based on new debt plan
CreditWatch says S&P might raise the rating one or more notches should the debt relief deal help to improve Eskom’s liquidity over time
15 March 2023 - 16:00
Credit ratings agency S&P Global will keep a close watch on how the new debt relief plan for Eskom, announced by the Treasury in February, helps in strengthening the utility’s liquidity over time, as it mulls upgrading its CCC+ rating.
The agency said on Wednesday it expected the R254bn debt relief agreement to be implemented over the next three years, to address Eskom’s near-term debt obligations and give the state-owned power utility room to focus on operational improvements and electricity sector reform targets...
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