S&P cuts Exxon credit rating

Today, S&P cut its credit rating on ExxonMobil (XOM) from AAA to AA+. The company had been one of only three companies with the highest rating. Now only two are left, Microsoft and Johnson & Johnson.

XOM had a AAA rating since 1949. In the last few years, the company has increased its debt load, plus lower oil prices have hurt their sales and earnings. On CNBC today, I talked about the outlook for big energy stocks.

Posted by on April 26th, 2016 at 4:00 pm


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