Ratings agency, S&P cuts Exxon’s long-term rating to AA- from AA with a negative outlook. Chevron was lowered to AA- from AA with a stable outlook. Conoco was reduced to A- from A with a stable outlook. Exxon Mobil Corp., Chevron Corp. and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings, Bloomberg has reported. The three oil and gas producers all had their ratings cut one notch,…
Read MoreExxonMobil, Chevron suffer downgrade on Earnings, Climate Risk Ratings
