On Sept. 14, 2014, the South African National Treasury announced that an interministerial team had submitted a financial support package for the state-owned power utility ESKOM. However, we do not yet know the final details of the Cabinet-supported plan. We are maintaining the ratings on ESKOM on CreditWatch negative until we have sufficient detail on the support package to assess its likely impact on ESKOM's credit profile, and our view of the extent of government support. On Oct. 3, 2014, Standard&Poor's Ratings Services said that it kept its 'BBB-' long-term local and foreign currency ratings, and its 'zaAA-' long-term and 'zaA-1' short-term national scale ratings, on ESKOM Holdings SOC Ltd. on CreditWatch with negative implications, where they had
