S&P revises Eskom credit rating outlook to stable

It means that the utility remains in what is known as “junk” status, but that the state’s plans to turn around the embattled utility may have convinced the agency that the country is serious about improving the power supplier’s fortunes.

A R69 billion lifeline thrown to Eskom over the next three years will cover about 70 percent of Eskom’s debt servicing costs, opening up room for the utility to use more of its revenue to keep the lights on, the power utility’s chief executive Phakamani Hadebe said last month. Speaking at parliament after Finance Minister Tito Mboweni tabled South Africa’s national budget, Hadebe said the R23 billion-a year-equity injection will go a long way towards helping the utility to pay debt costs, which stood at around R32 billion a year.For more news your way, download The Citizen’s app for

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Eskom chair warns of threat to the economy should debt not be repaidSo Eskom_SA start by selling the houses and cars bought by the previous executive management team! 👎🏿 Maybe empty some of their bank accounts too!👎🏿 💩🍩🇿🇦 Soweto owes billions! So pay back all the bonuses to start with
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Though the budget made provision for R69-billion in additional funds to Eskom over the next 3 years, Mboweni did not aid the utility with a debt swap, in which the state would have taken an estimated R100-billion of Eskom’s debt onto its own balance sheet.
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