Moody’s Investors Service (“Moody’s”) has changed the outlook for Eaton Corporation (“Eaton”) to stable from positive and affirmed all ratings for the company, including the Baa1 senior unsecured debt rating. “The current industrial downturn that has been deepened by the effects of coronavirus has halted Eaton’s path towards deleveraging and margin improvement, and a credit profile supportive of a higher rating now seems unlikely for at least two years,” says David Berge, Moody’s Senior Vice President and lead analyst for the company.