Fitch Hints to Downgrade Major Oil Companies
Wednesday, 27th January 2016
Fitch Ratings Agency stated that weak oil prices in 2016 will leave five out of seven large oil companies with financial leverage above the required level, hinting looming downgrading. Total is to make the sharpest cuts in its investments - of up to 49% and in shareholder returns among all oil majors in Europe.
Moody’s Reviews Oil and Gas Companies for Potential Downgrade
Sunday, 24th January 2016
Moody's, the ratings agency announced that it had put 120 oil and gas companies, together with 55 mining companies, under review for a potential downgrade, due to a prolonged slump in crude oil price. The review is expected to be completed by the end of Q1.