ESKOM HOLDINGS SOC LIMITED - Eskom Ratings by Standard and Poor.

Eskom Ratings by Standard and Poor.

Eskom Holdings SOC Limited
JSE Code: BIESKM
Date 30 November 2018


MEDIA STATEMENT


Standard & Poor’s affirms Eskom’s 'CCC+' credit rating

Thursday, 29 November 2018: Standard & Poor’s has announced its decision to affirm
Eskom’s foreign and local currency long-term credit ratings of ‘CCC+’. The rating agency
also affirmed Eskom’s ‘zaB’ and ‘zaB’ long and short-term national scale ratings, outlook is
negative.

The rating agency’s decision follows the release of Eskom’s interim results announced on
28 November 2018, where the company highlighted significant progress made by the
Board and management in their endeavours to transition the company towards
sustainability.

While Eskom’s financial and operational performances have deteriorated, the company’s
liquidity levels have improved significantly from what they were at the same time last year.
Standard & Poor’s sentiment and rationale remain consistent with other ratings agencies
and the affirmation is evidence of the slight shift in sentiment by the rating agencies.

Eskom’s newly appointed Group Chief Financial Officer, Calib Cassim said: “we are
encouraged by Standard & Poor’s decision to affirm our credit ratings. We view this action
as a positive demonstration of the improving sentiments towards Eskom. We remain
cognisant of the financial and operational challenges that we need to resolve; we are
resolute in our endeavours to steer this company towards desirable operational and
financial sustainability.”

“We continue to focus on finalizing Eskom’s strategy blueprint and corporate plan. We will
make the necessary decisions to advance this company to a better position, thereby
ensuring that we support South Africa’s growth and development plans by ensuring
consistent security of supply”, said Phakamani Hadebe, Group Chief Executive at Eskom.


ENDS


Issued by: Eskom Media Desk
Tel:       +27 11 800 3304/3343/3378
Cell:      +27 82 805 7278
Fax:       086 664 7699
Email:     mediadesk@eskom.co.za

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