echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > International Chemical > Standard & Poor's lowered the average price of Brent crude oil in 2020 to $40 per barrel

    Standard & Poor's lowered the average price of Brent crude oil in 2020 to $40 per barrel

    • Last Update: 2023-01-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Rating agency S&P Global on Tuesday lowered its assumptions for the average price of Brent crude to $40 a barrel and warned that some junk-rated oil and gas companies could face multiple credit ratings
    .

    S&P had previously expected Brent crude to average $60 this year
    .
    At the same time, it also lowered its forecast for next year from $55 to $50 and lowered its price assumption for Henry Hub gas to $
    2 from the previous $2.
    25 per million British heat.

    "Rating actions for oil and gas producing companies in the investment grade category are likely to be tougher
    than in the previous cycle," Standard & Poor's said.

    Standard & Poor's added: "For high-yield bonds, especially those issuers that are not hedged, those that are maturing, and businesses whose borrowing-based revolving lines of credit are somewhat squeezed, they are likely to face multiple downgrades
    .
    " ”

    Rating agency S&P Global on Tuesday lowered its assumptions for the average price of Brent crude to $40 a barrel and warned that some junk-rated oil and gas companies could face multiple credit ratings
    .

    S&P had previously expected Brent crude to average $60 this year
    .
    At the same time, it also lowered its forecast for next year from $55 to $50 and lowered its price assumption for Henry Hub gas to $
    2 from the previous $2.
    25 per million British heat.

    "Rating actions for oil and gas producing companies in the investment grade category are likely to be tougher
    than in the previous cycle," Standard & Poor's said.

    Standard & Poor's added: "For high-yield bonds, especially those issuers that are not hedged, those that are maturing, and businesses whose borrowing-based revolving lines of credit are somewhat squeezed, they are likely to face multiple downgrades
    .
    " ”

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.