LONDON (Standard&Poor's) Dec. 18, 2006--Standard&Poor's Ratings Services said today it affirmed its 'A-' local currency and 'BBB+' foreign currency long-term corporate credit ratings on ESKOM Holdings Ltd., the South African electricity utility. The outlook is stable. The 'A-' local currency senior secured and 'BBB+' foreign currency senior unsecured debt ratings were also affirmed. At the same time, Standard&Poor's assigned its 'zaAA+' long-term and 'zaA-1' short-term South Africa national scale ratings to the company. "The ratings reflect ESKOM's critical role in the development of South Africa's economy through its successful electrification program," said Standard&Poor's credit analyst Paul Lund. The ratings also factor in the government's intention to remain supportive of the company's credit
