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BIESKM - Eskom Holdings Soc Limited - Standard & Poor`s changes Eskom`s

Release Date: 30/03/2012 17:36
Code(s): JSE
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BIESKM - Eskom Holdings Soc Limited - Standard & Poor`s changes Eskom`s outlook from stable to negative Eskom Holdings Soc Limited Standard & Poor`s changes Eskom`s outlook from stable to negative Friday, 30 March 2012: Following the revision by Standard & Poor`s (S&P) of the South African Sovereign credit outlook from stable to negative, S&P has revised the outlook on Eskom`s rating from stable to negative and affirmed the BBB+ long term rating of the company. S&P has concluded that Eskom`s stand-alone credit profile should be maintained, even though Eskom will take longer to achieve cost-reflective tariffs given the recent announcement by the National Energy Regulator of South Africa (NERSA) that it had granted Eskom a reduced tariff increase of 16% as opposed to the originally approved 25.9% for the 2012/13 financial year. Paul O`Flaherty, Eskom Finance Director said: "We are comfortable with S&P`s analysis of the challenges facing Eskom and their acknowledgement of the steps we are taking, with the support of government, to move responsibly towards more sustainable credit parameters." ENDS 30 March 2012 Date: 30/03/2012 17:36:40 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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