MEDIA STATEMENT

Standard & Poors affirms the credit rating of Eskom at BBB- with a negative
outlook

Tuesday, 11 November 2014: Following the announcement of the Government Support

Plan, Standard & Poors (S&P) has affirmed Eskoms local and foreign currency corporate
credit rating at BBB-, with a negative outlook. On 20 June 2014, the agency placed
Eskom on negative CreditWatch, this has now been removed.

S&P believes that the Government Support Plan will support the liquidity and credit
metrics of Eskom in the near term. It also demonstrates the extremely high likelihood of
government support to the utility.
The affirmation of Eskoms credit rating and the removal of the CreditWatch is a very
constructive action by the agency. Eskom remains confident that the support from
Government will stabilise the credit metrics and the liquidity position. We will continue to
implement the initiatives identified with the support package from government to improve
the financial profile of Eskom and move towards a more stable credit rating environment,
said Eskom Finance Director Tsholofelo Molefe.
Eskom Chief Executive Tshediso Matona said: Eskom is encouraged by the affirmation of
its credit rating by S&P, this will greatly assist in achieving financial sustainability of Eskom
and to execute its infrastructure investment programme.

ENDS

Issued by: Eskom Media Desk

Tel:
+27 11 800 3304/3309/3343/3378
Cell:
+27 82 805 7278
Fax:
086 664 7699
Email:
mediadesk@eskom.co.za