Eskom has noted rating agency Moody's downgrade of its unguaranteed credit ratings. Moody's downgraded to 'B3' from 'B2' the long-term corporate family rating (CFR) of Eskom. The zero coupon Eurobonds rating has similarly been revised to 'B3' from 'B2', in line with the CFR and the global medium term note (GMTN) programme. The senior unsecured GMTNs of Eskom were downgraded to '(P) Caa1/Caa1 from (P) B3/B3 with the outlook remaining negative. Moody's has simultaneously affirmed the Baa3 rating on Eskom's government guaranteed notes. "Eskom notes with disappointment the ratings decisions implemented by Moody's. The current board and management have worked painstakingly hard to try and resolve corporate governance issues of the past regime," said the power utility on Tuesday.