Moody's lowers Eskom to Baa3

Moody's Investors Service said it downgraded the senior unsecured bond rating of Eskom Holdings Ltd. by one notch to Baa3 from Baa2.

The outlook remains negative.

Moody's said the rating action was prompted by the weakening of the South African government's credit profile, as captured by Moody's Sept. 27 downgrade of South Africa's government bond rating to Baa1 from A3.

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