Standard & Poor's has downgraded Exxon Mobil's long-term credit rating to AA+ from AAA, citing low commodity prices, high reinvestment requirements and hefty dividend payments to its shareholders. The one-notch move wasn't totally unexpected - S&P previously had said a downgrade of Exxon was likely - but the action is a stark reminder of just how far the industry has sunk during the past year-and-a-half.
展开▼
