Posts tagged as Downgrade

Eskom gets another S&P downgrade following 2018 Budget

S&P Global Ratings has again downgraded the long-term debt of Eskom. The power utility’s debt has been rated ‘CCC+’, the seventh rung of non-investment grade, with a negative outlook. It was previously classed as ‘B-‘, the sixth rung of junk debt. In a media statement S&P said the cash-strapped power utility remains at risk of a default in […]

Eskom’s hopes for low-cost credit dashed by ratings cut

  The recent suspension of Eskom’s CE and three other executives has resulted in the power utility’s long-term local and foreign currency ratings being downgraded by Standard & Poor’s Ratings Services to “BB+” from “BBB-“. The ratings agency says that the power utility’s outlook is negative. The result of this downgrade is that a number […]