Total: S&P downgrades outlook to 'negative'
(CercleFinance.com) - S&P reinstates its long-term "A+" credit rating for Total, although has downgraded its outlook from "positive" to "negative", as part of a series of actions concerning European oil and gas companies confronted by this difficult context.
"Oil prices and refining margins are testing multi-decade lows due to the combined effects of COVID-19 travel stoppages and unrestrained crude oil supply and price discounting," the rating agency points out.
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"Oil prices and refining margins are testing multi-decade lows due to the combined effects of COVID-19 travel stoppages and unrestrained crude oil supply and price discounting," the rating agency points out.
Copyright (c) 2020 CercleFinance.com. All rights reserved.