Total: Moody's adopts negative outlook for rating

(CercleFinance.com) - Moody's has downgraded its outlook for Total's rating from stable to negative, while maintaining its Aa3 rating for the time being.


"The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets," Moody's said.

"The combined credit effects of these developments are unprecedented. The oil and gas sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment."


Copyright (c) 2020 CercleFinance.com. All rights reserved.