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

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02/11/2019 | 05:29am EST
An Eskom logo is seen at the entrance of their head offices in Sunninghill, Sandton

JOHANNESBURG (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.

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

(Reporting by Alexander Winning, editing by Louise Heavens)

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