Eskom welcomes S&P rating upgrade to positive from stable

State-owned power utility Eskom has welcomed the decision by international ratings agency S&P Global Ratings to upgrade Eskom’s ‘B’ long-term global-scale foreign and local currency ratings to positive from stable. The ratings agency also affirmed Eskom’s ‘B’ issue rating on the group’s senior unsecured debt and the ‘BB-’ foreign currency issue ratings on the government guaranteed debt.