COAL
Global ratings agency S&P has raised South Africa-based coal miner Exxaro Resources’ national scale ratings to ‘zaA/zaA-1’, from ‘zaA-/zaA-2’, based on the miner continuing to deliver stable operational and financial performances. However, while the miner has maintained its earnings before interest, taxes, depreciation and amortisation (Ebitda) to 1.3x, S&P remains concerned about lingering risks of payment delays or nonpayment from State-owned power utility Eskom, which remains Exxaro’s largest customer and represents more than 60% of its revenue.
Please enter the email address that you used to subscribe to Research Channel. Your password will be sent to this address.
Don't have any login details?
Free Trial Access