Ricochet News

Eskom's rating outlook remains negative

Jan 30, 2015
Eskom's rating outlook remains negative

Credit rating agency, Standard & Poor’s ratings services (S&P), on Thursday night affirmed Eskom’s “BBB-” rating despite strained liquidity and kept the rating outlook at negative.

“We consider that Eskom’s liquidity headroom has deteriorated due to project delays and higher costs, so we’ve reassessed the company’s liquidity to less-than-adequate from adequate,” S&P said.

Eskom’s power system was relatively stable last night, minimising the risk of load shedding going into the weekend.

Since Monday, the power utility has implemented scheduled rolling blackouts after several of its generators broke down.

Eskom’s calender of likely load shedding shows a high risk of power cuts on Friday.

Khulu Phasiwe, the Eskom spokesman, said some of their generators that had been take off for maintenance were working again.

He said if things continued the way they were last night, there would be no load shedding.

“We are able, at the moment, to meet the demand,” said Phasiwe.