The international rating agency, Moody’s, has downgraded the world’s three largest oil companies over the declining prices.
Moody's revised its outlook for Chevron, Royal Dutch Shell and Total reducing their ratings between one and two notches. According to the New York-based rating company, the action was taken on the expectation that oil prices will stay low for longer and cause leverage concerns. The statement also cautions that the three oil giants will remain under pressure throughout
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