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Moody's says split plan does little to solve South Africa's Eskom financial woes

11th February 2019 BY: Reuters

The South African government's plan to split struggling state power company Eskom into three entities does little to address the company's financial difficulties, credit ratings agency Moody's said in a research report.

"The move paves the way for a more transparent group with more clearly allocated revenue and cost between business segments," Moody's said, adding that Eskom remained a significant risk to the country's fiscal strength.

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"However, in and of itself it does little to address Eskom's financial challenges," Moody's said. 

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EDITED BY: Reuters
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