S&P revises Imperial Oil view to negative

S&P said it revised the outlook on Imperial Oil Ltd. to negative from stable.

The agency also said it affirmed the company's AA+ long-term corporate credit rating, A-1+ global short-term and commercial-paper rating and A-1(high) Canadian scale commercial-paper rating.

The outlook revision reflects a similar outlook revision on Exxon Mobil Corp., Imperial's major shareholder, S&P said.

The outlook revision on ExxonMobil reflects the potential for a downgrade if the company's cash flow-based liquidity metrics don't improve to levels more appropriate for the current rating over the next few years, the agency explained.

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