It turned the credit rating of the 4 big energy companies into "negative".Moody's reported that the credit ratings of Shell, BP, Total and Equinor, one of the world's largest oil and natural gas producers, have been converted to negative.
The details of the statement made by Moody's are as follows:
It was noted that BP's credit rating was confirmed as "A1", Shell's "Aa2", Equinor's "Aa2" and Total's "Aa3", and companies' credit ratings were turned into negative.
In addition to all these, it was stated that the decrease in oil and natural gas prices will greatly affect the financial profiles of companies this year.