Johannesburg - Eskom's downgrade to junk status by Standard and Poor's
is of "grave concern", the SA Chamber of Commerce and Industry (Sacci)
said on Friday.
"The potential for the enterprise to raise the
additional R50bn that it requires, in addition to the original plan to
raise R200bn at a reasonable interest rate, is significantly reduced by
this downgrade," Sacci said in a statement.
READ: Eskom, Alstom part ways on Kusile
Despite National Treasury’s promised R20bn injection, Eskom still faced considerable challenges.
Ratings agencies Moody’s and Fitch currently had Eskom on a negative rating.
On
Thursday, S&P downgraded Eskom's long-term credit rating to BB+,
from BBB-, following the suspension of four of its senior officials.
Last
week, Eskom chief executive Tshediso Matona, finance director
Tsholofelo Molefe, group capital executive Dan Morokane, and commercial
and technology executive Matshela Koko were asked to step aside as the
power utility embarked on a fact-finding inquiry.
In recent
months, Eskom has battled to keep the lights on since the collapse of
one of its coal storage silos, diesel shortages, and maintenance issues.