S&P revises Total’s outlook from negative to stable

Credit ratings agency Standard and Poor’s has revised its outlook for oil major Total from negative to stable. S&P affirmed its ‘A+’ long-term and ‘A-1’ short-term corporate credit ratings on the company.

“The outlook revision reflects our view of Total’s strengthening cash flow generation. The strengthening reflects robust downstream performance, moderating capital expenditures (capex), and continuing cost efficiencies in the context of range-bound oil prices.

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