NASDAQ:

Standard & Poor’s Ratings Services on Tuesday cut the ratings of 10 U.S. oil and gas exploration and production companies, citing the sharp drop in crude oil prices.

Chevron Corp., the second-largest U.S. energy company by revenue, was among the companies that had their credit ratings cut. Its corporate credit rating was cut one notch to double-A-negative.

On Friday, Chevron said it would lay off workers and slash more than $9 billion in capital spending this year after reporting it had swung to a fourth-quarter loss.

Other companies that saw their ratings cut by one notch are: Apache Corp., Continental Resources Inc., Devon Energy Corp., EOG Resources Inc., Hess Corp., Hunt Oil Co., Marathon Oil Corp., Murphy Oil Corp. and Southwestern Energy Co.

Guardian:

Norway’s huge sovereign wealth fund, the world’s biggest, has sold out of 73 companies in the past year because their social or environmental policies could…