Moody’s chops credit ratings for Chevron, Shell, Total SA

Three of the world’s largest energy companies, Chevron Corp., Royal Dutch Shell Plc and Total SA, recently had their credit ratings lowered by Moody’s Investors Service on the expectation that oil prices will stay low and cause leverage concerns, reports FuelFix.com. The energy news site says Moody’s reduced Chevron and Shell’s ratings one level to Aa2, while Total SA’s was cut two levels to Aa3. FuelFix says oil companies are having their credit ratings cut as the collapse in crude prices reduces cash flows and limits their ability to sustain debt payments. For more, read the full story.

National