The credit rating for U.S. shale player Chesapeake Energy was downgraded because of cash flow problems in the weak market, Moody’s said. Moody’s Investors Service downgraded the corporate rating for Chesapeake Energy Corp. by one notch to Ba2. Moody’s Senior Vice President Pete Speer said the downgrade came as a result of weak cash flow and the toll taken by lower natural gas and crude oil prices. “Chesapeake will have to execute on assets sales and other transactions to meaningfully reduce its debt levels to better align its capital structure with the current commodity price environment,” he said in a statement. Energy consultant group IHS warned the depressed crude oil market could limit the borrowing options for North American exploration and production companies like Chesapeake. […]