{"id":325037,"date":"2026-06-18T11:12:51","date_gmt":"2026-06-18T09:12:51","guid":{"rendered":"https:\/\/novanews.co.za\/tygerburger\/?p=325037"},"modified":"2026-06-18T11:32:41","modified_gmt":"2026-06-18T09:32:41","slug":"fitch-upgrades-eskoms-credit-rating-following-sa-sovereign-upgrade","status":"publish","type":"post","link":"https:\/\/novanews.co.za\/tygerburger\/fitch-upgrades-eskoms-credit-rating-following-sa-sovereign-upgrade\/","title":{"rendered":"Fitch upgrades Eskom&#8217;s credit rating following SA sovereign upgrade"},"content":{"rendered":"\n<p>Fitch Ratings has raised <a href=\"https:\/\/www.eskom.co.za\/\">Eskom<\/a>&#8216;s credit ratings across three categories, following a recent improvement in South Africa&#8217;s sovereign credit rating.<\/p>\n\n\n\n<p>The power utility said it viewed the decision as continued recognition of its central role in the country&#8217;s energy system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-the-upgrade-covers\">What the upgrade covers<\/h2>\n\n\n\n<p>The following are the ratings for the utility:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Long-term issuer default ratings: raised to B+ from B, with a stable outlook<\/li>\n\n\n\n<li>Senior unsecured debt: raised to B+ from B, with the recovery rating of RR4 unchanged<\/li>\n\n\n\n<li>Guaranteed senior unsecured debt: raised to BB from BB-<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-linked-to-south-africa-s-sovereign-rating\">Linked to South Africa&#8217;s sovereign rating<\/h2>\n\n\n\n<p>The upgrade follows the improvement in South Africa&#8217;s sovereign credit rating and is based on Eskom&#8217;s close ties to the government under Fitch&#8217;s Government-related Entities rating framework.<\/p>\n\n\n\n<p>It assessed the relationship between Eskom and the South African government as &#8220;strong across key support factors, including oversight, policy role, and the precedent of support, with Eskom&#8217;s rating positioned below the sovereign in line with this framework.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-turnaround-plan-on-track\">Turnaround plan on track<\/h2>\n\n\n\n<p>The rating action also comes as Eskom continues to steady its operations and strengthen financial management under its ongoing turnaround plan.<\/p>\n\n\n\n<p>Eskom Group Chief Executive Dan Marokane said the utility&#8217;s focus remained on delivery.<\/p>\n\n\n\n<p>&#8220;We continue to implement our turnaround strategy at pace to restore operational and financial stability, maintain energy security, and position Eskom for sustainable long-term growth that supports the economy. Eskom, and in turn South Africa, now has a stable electricity platform to operate and grow from, advancing grid stability, market liberalisation and the integration of renewable energy.&#8221;<\/p>\n\n\n\n<p>The group remained focused on strengthening operational performance, improving liquidity and access to funding, and delivering on its turnaround plan in support of long-term financial sustainability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-positive-signal\">A positive signal<\/h2>\n\n\n\n<p>Eskom said it viewed the upgrade as &#8220;a positive signal of improving macroeconomic conditions and continued recognition of the utility&#8217;s central role in South Africa&#8217;s energy system.&#8221;<\/p>\n\n\n\n<p>Earlier this month Fitch upgraded South Africa&#8217;s long-term foreign and local currency credit ratings to BB from BB- and maintained the stable outlook.<\/p>\n\n\n\n<p>It said the upgrade reflected South Africa&#8217;s record of sound fiscal management and progress on fiscal consolidation, despite weak economic growth and domestic and external shocks.<\/p>\n\n\n\n<p><strong>ALSO READ:<\/strong> <a href=\"https:\/\/novanews.co.za\/fitch-lifts-south-africa-rating-in-first-upgrade-in-two-decades\/\" type=\"link\" id=\"https:\/\/novanews.co.za\/fitch-lifts-south-africa-rating-in-first-upgrade-in-two-decades\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fitch lifts South Africa rating in first upgrade in two decades<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch raises Eskom&#8217;s credit rating to B+ following South Africa&#8217;s sovereign upgrade, recognizing the utility&#8217;s turnaround 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