JOHANNESBURG - One of the world's big rating agencies, Moody's, has changed Eskom's outlook to positive after having it in a negative outlook for 15 years.
The announcement comes after Finance Minister Enoch Godongwana announced plans to provide debt relief to Eskom to address the utility’s liquidity challenges.
The rating agency says it's waiting for more details on the selection of relevant debt instruments and the method of effecting the transfer of a portion of the debt which will be announced in the 2023 Budget.
It says the debt relief is expected to account for between one-third and two-thirds of Eskom's current debt.
The aim of the debt takeover, together with other reforms, is to ensure that Eskom becomes financially sustainable and repairs its operations.