Thursday, February 25, 2016
Exxon Faces First Downgrade In 90 Years
"The outlook for Exxon, which has held Moody’s top Aaa rating for more than 90 years, dropped to negative from stable, the rating company said in a statement on Thursday. "
"Seven of the other largest U.S. energy explorers also were put on notice or downgraded by Moody’s Thursday after the rating company concluded crude prices will remain weak for years. The Moody’s review featured a Who’s Who of American oil and gas heavyweights, from Chevron Corp. to Marathon Oil Corp. to ConocoPhillips."
"Exxon...has annual revenues that dwarf the economies of most of the nations in which it operates."
Posted by Mac10 at 7:57 PM