ExxonMobil's $20 billion debt spurs loss of perfect credit rating

ExxonMobil was stripped of its perfect AAA credit rating by Standard & Poors on Tuesday The ratings firm cited the energy behemoth's huge levels of debt and the backdrop of low energy prices Exxon's enormous spending commitments tied to its fat dividend payouts and expensive drilling projects were also factors in S&P's decision Exxon's long-term debt doubled from last year to $20 billion