Chevron, Shell and Total's credit ratings get downgraded by Moody's
Three of the world’s largest energy companies had their credit ratings lowered by Moody’s on concerns of high debt loads and lower for longer oil prices:
- Chevron's cash flow is expected to be negative for the next few years, while Shell's huge acquisition of BG Group has significantly increased the company's debt load.
- Chevron and Shell’s ratings were lowered to Aa2 from Aa1. Total’s rating was reduced 2 notches to Aa3 from Aa1.
- BP's rating was left unchanged at A2, making it more credit-worthy than its competitors.