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S&P downgrades ExxonMobil's top credit rating

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Investors shrugged off the downgrade to AA+, still a stellar rating, and slightly bid up ExxonMobil's stock price on Tuesday to close at US$87.63.

Houston

STANDARD & Poor's stripped ExxonMobil of its top credit rating on Tuesday for the first time since the Great Depression, signalling that even the mightiest oil company cannot escape the worst oil and gas slump since the 1980s.

Only two US companies now have an S&P