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Eskom probe credit negative – Moody’s

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(Gianluigi Guercia, AFP)
(Gianluigi Guercia, AFP)

Johannesburg - The initiation of an independent inquiry into Eskom, following the suspension of four executives, was a credit negative, ratings agency Moody's Investor Services said on Friday.

"Whilst Moody’s understands that there are no charges against the executives and no accusation of wrongdoing, the inquiry is credit negative for Eskom because it may affect investor sentiment," Moody's said in a statement.

"Investor sentiment is key for the company given the need to access the debt capital markets to fund a very significant investment programme and re-finance debt maturities."

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