Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative

Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative
Published Dec 13, 2010
2241 words — Published Dec 13, 2010
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About This Report

  
Abstract:

We have recently revised our methodology and assumptions for rating government-related entities. We consider South Africa-based power utility ESKOM Holding Ltd. to be a GRE under our criteria and assess the likelihood of extraordinary support to be "extremely high". We are lowering our local currency long-term corporate credit rating on ESKOM to 'BBB+' from 'A-'. As a result, we are also lowering the long-term South African national scale rating on ESKOM to 'ZaAA' from 'ZaAA+'. The negative outlook reflects that on the Republic of South Africa. On Dec. 13, 2010, Standard&Poor's Ratings Services lowered its long-term local currency corporate credit and senior secured debt ratings on South Africa-based power utility ESKOM Holding Ltd. (ESKOM) to 'BBB+' from 'A-'.

  
Brief Excerpt:

RESEARCH Research Update: ESKOM LC Rating Lowered To '###+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative Publication date: 13-Dec-2010 Primary Credit Analyst: Michela Bariletti, London (44) 20-7176-3804;...

  
Report Type:

Research Update

Ticker
1001Z@SJ
Issuer
ESKOM Holdings SOC Ltd.
GICS
Electric Utilities (55101010)
Sector
Global Issuers
Country
South Africa
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative" Dec 13, 2010. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-ESKOM-LC-Rating-Lowered-To-BBB-National-Scale-Rating-To-ZaAA-On-Revised-Methodology-For-GREs-Outlook-Negative-837239>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: ESKOM LC Rating Lowered To 'BBB+', National Scale Rating To 'ZaAA' On Revised Methodology For GREs; Outlook Negative Dec 13, 2010. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-ESKOM-LC-Rating-Lowered-To-BBB-National-Scale-Rating-To-ZaAA-On-Revised-Methodology-For-GREs-Outlook-Negative-837239>
  
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