Cenovus Energy Inc. and Husky Energy Inc. and four other Canadian energy companies have seen their ratings or outlooks lowered by Standard & Poor’s as slumping commodities prices put pressure on their businesses. Cenovus’s grade was cut to two levels above junk to BBB from BBB+ with a stable outlook and Husky saw the outlook on its BBB+ ranking lowered to negative from stable, the rater announced Friday. “The rating actions taken on both Cenovus and Husky reflect our view of the changes to each company’s business risk and financial risk profiles caused by the persistent weakness of crude oil and natural gas prices, and the resulting downward revision of our hydrocarbon price assumptions,” S&P said in its ratings rationale. Cenovus spokesman Brett Harris said in an e-mail that “nothing has changed” for Cenovus despite the credit rating downgrade. “We are still a solid investment-grade company with one of […]