Moody’s downgrades Eskom’s ratings with negative outlook
Moody’s Investor Services has downgraded power utility Eskom’s credit ratings, this just a day after announcing a downgrade of South Africa’s five major banks. In a statement on Wednesday morning, Eskom announced that Moody’s had downgraded the corporate family rating (CFR) of Eskom Holdings SOC Limited (Eskom) to Ba2 from Ba1. The rating agency also revised the senior zero coupon Eurobonds (Section 7 debt under the Eskom Conversion Act, 2001) […]
