Moody’s warns SA over Eskom funding

PUBLISHED: Thu, 25 Jul 2019 10:23:44 GMT


Rating agency Moody’s has warned that the tabling of an appropriation bill in parliament to give Eskom an extra R59 billion of government support by Finance Minister Tito Mboweni is “credit negative” for the sovereign as it is a further drain on fiscal resources. Moody’s is the last of the three big international ratings agencies to have South African debt at investment grade. Cobus Potgieter, Director at AIP Capital Management joins CNBC Africa to give analysis.

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