Actionable news
0
All posts from Actionable news
Actionable news in RDS.B: ROYAL DUTCH SHELL PLC ADS CLASS B,

Three Oil Majors Have Debt Ratings Cut by Moody's on Price Rout

Three of the world’s largest energy companies had their credit ratings lowered by Moody’s Investors Service on the expectation that oil prices will stay low for longer and cause leverage concerns.

Chevron Corp. and Royal Dutch Shell Plc had their ratings reduced by one level, while Total SA’s was cut two steps, according to statements by the New York-based rating company on Friday. Chevron will generate negative cash flow amid rising debt for at least the next two years, while Shell will have elevated leverage following its acquisition of BG Group Plc, Moody’s said. Prices are expected to...


More