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Johannesburg - Power utility Eskom's rating is
unlikely to be affected by the latest management changes, rating agency
Moody's said on Tuesday.
"We do not expect the management change to affect Eskom's current
rating as this is only one component addressed by Moody's rating," Helen
Francis, VP-senior credit officer at Moody's said.
"The key concerns are the fundamental operational and strategic
challenges that Eskom faces, which could impact electricity supply and costs
negatively," she said.
"Key concerns for Eskom's rating include significant investment needs -
a prolonged programme of capital investment brings with it high execution
and funding risks, rising financial debt and increases in operating costs,"
she added.
"Moody's negative rating outlook for Eskom reflects the weak position
of Eskom's BCA within its rating category, combined with execution risk with
respect to Eskom's sizeable capex program and the political and regulatory
pressures that surround it," Francis said.
- I-Net Bridge