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Eskom still able to secure funding despite downgrade

Friday, 07 April 2017, 11:24
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Eskom still able to secure funding despite downgrade
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NATIONAL NEWS - Eskom says despite the recent credit downgrade on the state utility it is still able to secure most of its funding by the end of this month.

Standard and Poor’s Global and Moody’s lowered its long-term corporate credit rating on Eskom from B+ to BB- following the downgrade to junk status for the country earlier this week.

In the line with the execution of Eskom’s funding plan, 72% of the current fiscal year's funding amounting to R72 billion will be secured by the end of April and therefore the funding requirement for the 2017/2018 financial year has not been compromised.
 

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