- Perhaps just as noteworthy as the 10 U.S. oil companies downgraded by Standard & Poor's is the company it did not downgrade but put on credit watch: Exxon Mobil (XOM +2.2%).
- XOM is one of three U.S. companies with S&P’s highest AAA rating - which it has held since 1930 - but the ratings agency placed XOM on credit watch with negative implications because its credit measures probably will remain weak through 2018.
- S&P says it will decide whether to downgrade XOM within 90 days; it if chooses to make a cut, it probably would be only by a single notch.
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Earlier: S&P cuts ratings of 10 U.S. oil companies