Exxon Mobil Corp. may lose its top-notch credit rating from Moody’s Investors Service as the oil-market collapse imperils cash flow needed to cover debt payments and investment in new discoveries.
Seven of the other largest U.S. energy explorers also were put on notice or downgraded by Moody’s Thursday after the rating company concluded crude prices will remain weak for years. The Moody’s review featured a Who’s Who of American oil and gas heavyweights, from Chevron Corp. to Marathon Oil Corp. to ConocoPhillips.
The outlook for Exxon, which has held Moody’s top Aaa rating for more than 90 years, dropped to negative from stable, the rating company said in a statement on Thursday. The move followed a warning earlier this month from Standard & Poor’s that its own rating on Exxon’s debt may be in jeopardy.
Brazil Energy Insight 
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