JSE warns Eskom over late financial statements

Embattled state-owned power utility Eskom this week failed to submit its financial statements and information within the seven-month period stipulated in the JSE’S debt listings requirements .

“Accordingly, the holders of debt securities in the above-mentioned issuer are warned that the issuer has failed to submit its financial information timeously and that the listing of the issuers’ debt securities and the registration of programme memorandum is under threat of suspension and possible removal if the issuer fails to submit their financial information by end of November 2022,” the JSE said.

Meanwhile, Moody’s Investors Service raised its outlook on Eskom’s debt ratings to positive for the first time in 15 years in a move seen to be an affirmation to the announcement by government last week that it will absorb a large chunk of the utility’s R400-billion debt.