A Slippery Slope for Oil Outfits
U.S. oil and gas credit trends are likely to be more daunting in 2007 than in the past few years, as weakening fundamentals, particularly for natural gas, result in a softening of prices. In 2006, upgrades outpaced downgrades by more than two to one, in part due to robust industry conditions deriving from record hydrocarbon prices. For 2007, Standard & Poor's Ratings Services expects factors that influence crude oil and natural gas prices to have a significant impact on ratings activity and trends.
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