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S&P downgrades debt of energy companies

Meanwhile, brokers Sanford Bernstein warns that UK and other European banks have sizeable exposure to Glencore and other commodity traders

S&P's assumptions are based on a forecast Brent oil price of US$50 a barrel for the remainder of 2015, US$55 a barrel in 2016, US$65 a barrel in 2017, and US$70 a barrel thereafter.


STANDARD & Poor's has downgraded the debt of numerous US, European and emerging market energy companies while brokers Sanford Bernstein has warned that banks are exposed to debt of commodity traders.

S&P has revised downwards its oil price projections and is...

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