Johannesburg - Fitch Ratings has upgraded Eskom's national long-term ratings to AAA(zaf), the power utility said on Thursday.
Chief executive Brian Dames welcomed the improvement in the ratings, from AA+(zaf).
“The positive rating action is very helpful at this critical time as Eskom continues to execute the current build programme,” he said in a statement.
AAA is the highest rating denoting the best quality companies, which are considered reliable and stable. AA denotes a quality company, with slightly higher associated risk than AAA companies.
“A positive rating adjustment will assist Eskom in accessing funding in capital markets and it will improve investor confidence.”