Moody’s Maintains BPC Rating Despite Gov't Downgrade
National power utility, Botswana Power Corporation (BPC), has retained its investment-grade status after Moody’s Ratings affirmed its Baa3 credit rating.
BPC's credit rating withstood the sovereign downgrade on Botswana’s sovereign rating, which was dropped due to the country’s weakening fiscal position.
- The outlook for BPC remains negative due to technical inefficiencies constraining power production at Morupule B.
- The 600MW plant has suffered frequent breakdowns since commissioning in 2012, due to design flaws and other weaknesses.
That a journalist can be physically attacked, have his equipment destroyed, and receive death threats within the supposed sanctuary of a courtroom is a chilling development that demands an immediate and robust response from authorities.
Author's summary: BPC retains investment-grade status despite sovereign downgrade.
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