Stung by low oil prices, Exxon loses ‘AAA’ rating from S&P

NEW YORK (AP) — Low oil prices have helped cost Exxon its pristine “AAA” credit rating from Standard & Poor’s, a label it held for over six decades.
The top “AAA” credit rating from S&P means a company’s debt is the safest possible investment. Now only two other U.S. corporations are rated triple-A by S&P: consumer and medical products company Johnson & Johnson and technology company Microsoft.
S&P says it lowered Exxon’s rating