ASHA SPECKMAN: Eskom is wearing out even patient Moody’s
Could it be that the gloves are finally off between Moody's and the government and we should expect another eventful year in 2019?
Could it be that the gloves are finally off between Moody's and the government and we should expect another eventful year in 2019? Never mind the other issues for SA - the fallout from land reform, the many commissions of inquiry and the looming elections will keep us sufficiently occupied. SA is already skating close to the precipice of a credit ratings downgrade from the usually patient international ratings agency, which is the only one that has kept us on investment grade. Analysts are now speculating about a potential downgrade. While a downgrade would be worrying, the subtle cautionary tone in a report about Eskom from Moody's this week was as refreshing as it was surprising. It is safe to deduce that Moody's is gatvol with the culmination of several years of poor management at Eskom, which has hobbled the country's main source of electricity supply and is among the factors that has stifled meaningful economic growth. If the government waves its magic wand and takes onto its b...
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