ESKOM HOLDINGS SOC LIMITED - Eskom Holdings SOC Limited-Credit Rating Announcement

Eskom Holdings SOC Limited-Credit Rating Announcement

Eskom Holdings SOC Limited
(Registration No. 2002/015527/06)
JSE alpha code: BIESKM


CREDIT RATING ANNOUNCEMENT BY FITCH RATINGS AGENCY


In accordance with paragraph 6.8 of the JSE Limited Debt Listings Requirements, noteholders are
hereby advised that on 28 May 2024 Fitch Ratings Agency ("Fitch") affirmed Eskom Holdings SOC
Ltd's Long-Term Local-Currency Issuer Default Rating (IDR) at 'B' and removed the rating from Under
Criteria Observation (UCO). The outlook is stable. The rating affirmation reflects strong links between
Eskom and South Africa (BB-/Stable), as per Fitch's latest Government-Related Entities (GRE) Rating
Criteria.


Eskom's Standalone Credit Profile (SCP) remains the same at 'ccc-' which is reflective of Eskom's poor
operating performance, weak financial position and liquidity that remains highly dependent on
government support through a debt relief programme till financial year ending March 2027.


For more details around the rating rationale, noteholders may view the Fitch report through the following
website:

www.fitchratings.com


Johannesburg
30 May 2024

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 30-05-2024 03:30:00
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