Exxon Mobil Corp. Outlook Revised To Negative From Stable On Weak Credit Measures; Ratings Affirmed

S&P Global Ratings is revising its operating assumptions for U.S.-based integrated oil company Exxon Mobil Corp. We now forecast slower debt reduction than previously expected resulting in credit measures remaining weak for the rating over the next two years. Consequently, we are revising the outlook on ExxonMobil to negative from stable. We are affirming our 'AA+' long-term corporate credit rating on the company, and our 'AA+' issue-level ratings on its unsecured debt. We are also affirming our 'A-1+' short-term corporate credit and commercial paper ratings. The negative outlook reflects the potential for a downgrade if we no longer expect cash flow-based credit measures to improve to levels more appropriate for the current rating over the next two years. NEW YORK

...+ S&P Global Ratings is revising its operating assumptions for U.S.-based integrated oil company Exxon Mobil Corp. We now forecast slower debt reduction than previously expected resulting in credit measures remaining weak for the rating over the next two years. + Consequently, we are revising the outlook on ExxonMobil to negative from stable. + We are affirming our '##+' long-term corporate credit rating on the company, and our '##+' issue-level ratings on its unsecured debt. We are also affirming our 'A-1+' short-term corporate credit and commercial paper ratings. + The negative outlook reflects the potential for a downgrade if we no longer expect cash flow-based credit measures to improve to levels more appropriate for the current rating over the next two years. NEW YORK (S&P Global Ratings) May 24, 2017--S&P Global Ratings today affirmed its '##+' long-term corporate credit and unsecured debt ratings on U.S.-based integrated oil and gas company Exxon Mobil Corp. (ExxonMobil), and revised...

Ratings Action