Texas energy data wrap: Oil and gas cos. face ratings downgrades in 2019

One of the big three credit ratings agencies reported a downward trend in the ratings of oil and gas companies throughout 2019 — and it reached a fever pitch during the fourth quarter. Read more about that and other data points to know in Texas energy this week.

Moody’s Corp., one of the big three corporate credit ratings agencies, gave out more credit downgrades than upgrades to oil and gas companies for the fifth consecutive quarter in the final quarter of 2019, according to a report published…