LONDON (Standard&Poor's) Oct. 11, 2005--Standard&Poor's Ratings Services said today it affirmed its long-term 'BBB+' foreign currency and 'A-' local currency corporate credit ratings on ESKOM Holdings Ltd. (Eskom), the South African electricity utility. The outlook on both ratings is stable. "The affirmation reflects our expectation that the effect of an upcoming regulatory review, significant capital expenditure requirements, and the restructuring of regional electricity distribution will have a neutral effect on ESKOM's standalone credit quality," said Standard&Poor's credit analyst Paul Lund. Standard&Poor's evaluates ESKOM as a government-owned institution supported by public policy. Modest government support provides a moderate enhancement to the company's standalone credit quality. The ratings on ESKOM reflect its critical role
