JOHANNESBURG (Reuters) – South Africa is aware of the “strain and risk” posed by failing state firms, particularly Eskom, and will do more to contain debt, National Treasury said on Friday after the ratings firm Fitch downgraded its credit outlook to negative from stable.
“Government is aware of the strain and risk that state-owned companies, particularly Eskom, present to the fiscal framework,” the treasury said in a statement.
“A team of officials led by Directors-General of National Treasury and Public Enterprises have considered a number of options as a solution to Eskom’s debt challenge in order to ensure its sustainability, and the most viable of these will be communicated in due course.”
(Reporting by Mfuneko Toyana; Editing by Kevin Liffey)
The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters
or its third party content providers. Any copying, republication or redistribution of Reuters content, including
by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.
"Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
 => stdClass Object
[id] => 1301156
[url] => OZABS-UK-SAFRICA-ESKOM-MOODY-S
[image] => 2019-11-05T131540Z_1_LYNXMPEFA413L-OZABS_RTROPTP_1_OZABS-UK-SAFRICA-ESKOM-MOODY-S.JPG
[image2] => 2019-11-05T131540Z_1_LYNXMPEFA413L-OZABS_RTROPTP_3_OZABS-UK-SAFRICA-ESKOM-MOODY-S.JPG
[image_caption] => The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant
[date] => 2019-11-05
[tdate] => 2019-11-05 15:50:02