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Total: Moody's downgrades outlook

(CercleFinance.com) - Moody's has downgraded its outlook on Total's long-term and short-term credit ratings ("Aa3" and "P-1" respectively) from "positive" to "stable", believing that "Total's credit metrics have not improved to levels that would be commensurate with an upgrade".


"It is also unlikely that the company's metrics will reach the guidance for an upgrade in the next 12 to 18 months, notwithstanding an ongoing improvement in its operating cash flows," adds Martin Fujerik, the analyst in charge of these ratings.


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