Downgrade for Eskom ratings, Jabu Mabuza vows to act

“The company’s liquidity levels remain at low levels; we have, however, seen a considerable amount of support for Eskom paper from the local markets and coupled with the financial support announced by government, we are cautiously confident that our debt obligations are not at risk.”

Eskom’s acting group CEO and interim executive chairperson, Jabu Mabuza, said: “We acknowledge the concerns expressed by Moody’s and continue to work closely with shareholder ministries to resolve the current challenges. “Whichever option gets implemented through the unbundling processes, we will ensure that our creditors will not be compromised and that the execution of these options gets done under acceptable legal frameworks. Our electricity supply system remains fairly constrained; but we are doing everything we can to make sure that the supply is not compromised.”

Moody's also downgraded the country's rating outlook on Friday, from “stable” to “negative”, which commentators said was a signal to government to take much stronger action to get debt under control, cut spending and address low economic growth. On Tuesday, Eskom cautioned that the country's electricity system was “severely constrained” and it was relying on emergency resources — diesel and pumped water storage — to keep the lights on.

They ACT like fools and will raise the salaries of the workers again.

after effects of a tornado called ‘ZUPTA’

Well planned, so the issue is not about who is leading the organisation.

Act🤔? Kante what was this man doing for since he got there🤷‍♂️?

Moody is playing, Eskom will hit them with Load Shedding and they will regret downgrading Eskom. Can someone tell Moody's what Eskom is capable of please

Fucken useless

Mnxim

Vows to act? WTF.... has he been doing for the last year? 😡😡😡

Recently? People who were appointed in January 2018?

🤣🤣🤣, but Cyril's Presidency is a joke, haai

This is a technical move to force labour unions to come into terms with the reality that that retrenchment is inevitable at Eskom. In actual fact, 60% of the current employees are redundant, including executive.

What do they expect when there is a political interference, board chaired by an indirect shareholder of a supplier, inconsistent and incompetent board

Well, they are not fixing what needs to be done. Tough decisions need to be made and carried out. When are the ANC going to get this? They are not Big in Japan anymore.

THUMAMINA

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