Posted on 02/03/2016 12:57:04 PM PST by Lorianne
Only three American companies can brag of a higher credit rating than the United States government: ExxonMobil, Microsoft and Johnson & Johnson.
Soon that elite group could shrink to just two.
Standard & Poor's threatened on Tuesday to strip Exxon (XOM) of its perfect AAA credit rating. The ratings company placed Exxon on a negative credit watch, warning the oil giant's credit measures will remain "weak" through 2018 due to the dramatic plunge in oil prices.
The world's largest publicly-traded oil company, Exxon could lose its AAA status within the next 90 days, S&P said.
In addition to Exxon, S&P also warned it could downgrade the credit ratings of ConocoPhillips (COP) and Anadarko Petroleum (APC).
(Excerpt) Read more at money.cnn.com ...
It has occurred to me lately ... is this oil bust another one of those ‘manufactured crisis’ situations just to bust the oil companies?
Obama has pretty much destroyed the coal industry in the name of global warming, is this an attempt to do the same thing to oil?
Wouldn’t Apple or Google have a AAA rating like that also?
Remember what baraq did to B.P.?
Exxon is being sued by the attorney general of NY for being climate deniers.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.