S&P, the rating agency, on Friday revised Eskom’s rating from negative to stable as the power utility tries to get back on its feet with mounting debt and power outages.“We are encouraged by the rating agency’s decision to positively revise their outlook on Eskom and affirm the credit ratings,” said Cassim.In his budget speech in Parliament two weeks ago Finance Minister Tito Mboweni said they were helping Eskom to get its house in order.
Mboweni said the government will appoint a chief reorganisation officer to an SOE given a guarantee to oversee the financial framework of the entity. The state has extended more than R500bn in guarantees to SOEs in the past few years with most of the guarantees with Eskom.Political Bureau
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