Fitch keeps Eskom's rating unchanged

Fitch has maintained a rating of BB- for Eskom, also leaving it at speculative grade.

Ratings agency Fitch has said it will keep Eskom’s Long-Term Local Currency Issuer Default Rating (IDR) and unguaranteed local currency senior unsecured rating of BB-, leaving it at speculative grade.

Fitch said in a statement:

“The rating agency is cognisant of the positive measures that have been implemented by the new board and management to turn the company around in their short tenure at Eskom.” 

Fitch also affirmed the government-guaranteed local currency senior unsecured debt ratings at BB+, in line with the rating of South Africa.