-- State guarantees of ESKOM's debt have been executed and meet Standard&Poor's criteria for timely, direct, and unconditional payment. -- We consider the South African utility a government-related entity under our criteria and assess the likelihood of extraordinary support, if needed, to be "extremely high". -- We are affirming our 'BBB+' foreign currency and 'A-' local currency corporate credit ratings on ESKOM. -- The negative outlooks on the foreign and local currency ratings reflect those on the Republic of South Africa. LONDON (Standard&Poor's) Jan. 21, 2010--Standard&Poor's Ratings Services said today that it affirmed its 'BBB+' foreign currency and 'A-' local currency long-term corporate credit ratings (CCRs) on South African utility ESKOM Holdings Ltd. The
