London -- Standard&Poor's CreditWire 1/12/98 -- Standard&Poor's today assigned its triple-'B'-plus long-term rating to ESKOM's South African rand 2 billion zero coupon bonds due 2018. ESKOM's long-term issuer credit rating for debt denominated in foreign currencies is double-'B'-plus and the local currency issuer credit rating is triple-'B'-plus; the outlook for both is positive. The rating reflects ESKOM's position as South Africa's primary generator and transmitter of electricity and its strategic importance in supporting long-term economic growth in the country. The rating also acknowledges support offered to ESKOM through an evolving regulatory environment, as well as low tariff rates, good plant and management operations, and limited near-term capital needs. Risks reflected in the ratings include a certain
