Fitch lowers Eskom

Fitch Ratings said it downgraded Eskom Holdings SOC Ltd.’s long-term local-currency issuer default rating to B+ from BB- with a negative outlook. Fitch also downgraded the senior unsecured debt to B+/RR4 from BB- and the senior unsecured guaranteed debt to BB from BB+.

“Fitch will review Eskom's national ratings following the re-calibration of its national ratings scale as a result of the sovereign downgrade,” the agency said in a press release.

The downgrade and negative outlook follow Fitch’s downgrade and outlook revision of South Africa on April 3.

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