Exxon Mobil had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth.
The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities and refinery upgrades, Moody’s said in a statement Tuesday. The outlook on its Aaa rating was reduced from stable.
Brazil Energy Insight 
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