Moody's, S&P ratings on South African power firm Eskom unchanged

JOHANNESBURG (Reuters) - Ratings firms Moody's and Standard and Poor's kept South African utility Eskom's credit status unchanged, saying recent cash injections by government had eased a funding crunch, the power firm said on Friday. Moody's affirmed the Ba1, or speculative grade, rating of state-owned Eskom's [ESCJ.UL] senior unsecured credit rating with a stable outlook, while S&P also kept the power utility's local and foreign currency corporate credit rating unchanged at BB+, with a negative outlook. The state has provided Eskom with 10 billion rand ($699 million) in equity, with an additional 13 billion rand expected by March 2016, the company said on Wednesday. [nL8N13J1WD] "We are pleased that the ratings agencies have affirmed Eskom’s credit rating. These constructive actions demonstrate the commitment by Eskom and the government to stabilise the liquidity position and credit matrices of the company," Eskom’s Chief Financial Officer Anoj Singh said. Eskom's Chief Executive Brian Molefe also said on Wednesday the company was not "desperate" to raise money through the sale of international bonds, having indicated a week earlier that the utility had the ability to raise up to $1 billion via a bond to fund new power plants. The state-owned utility is struggling to keep the lights on in Africa's most industrialised economy as its aging fleet of coal-powered stations buckle under increased demand, and has had to lean on government funding of late. ($1 = 14.3138 rand) (Reporting by Mfuneko Toyana; Editing by James Macharia)