CAPE TOWN – Eskom noted with “disappointment” Moody’s Investors Service’s decision to downgrade the power utility to B3 from B2, the long-term corporate family rating (CFR) of Eskom Holdings, and the zero coupon euro bonds to B3 from B2.
Even with a decisive election victory for South Africa’s ruling party this week, the country’s President Cyril Ramaphosa could still struggle to push through the tough reforms needed to galvanise Africa’s most developed economy, say analysts and some party insiders.
Eskom on Monday night narrowly averted load shedding despite a decline in peak energy demand compared to 2007 and the addition of more than 7 500MW of Eskom installed generation capacity over the last decade.
