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Burmah Castrol's Ratings Raised, Off CreditWatch Pos; BP Amoco Ratings Affirmed Jul 00
Standard & Poors, July 2000
Abstract
LONDON (Standard & Poor's CreditWire) July 25, 2000--Standard & Poor's today raised its long-term corporate credit, senior unsecured, and bank loan ratings on Burmah Castrol PLC to double-'A'-plus from single-'A', and raised Burmah Castrol's short-term corporate credit and short-term rating to 'A-1+' from 'A-1'. The ratings were removed from CreditWatch with positive implications, where they were placed on March 14, 2000. At the same time, Standard & Poor's affirmed its double-'A'-plus/'A-1+' corporate credit ratings on BP Amoco PLC and related entities (see list below for all ratings affected). The outlook is stable. The rating actions follow the recent announcement that BP Amoco's recommended cash offer for Burmah Castol has been declared unconditional, and therefore binding. Burmah Castrol will become BP...
Companies mentioned in this report are: Burmah Castrol PLC,BP Products North America Inc.,BP PLC,Standard Oil Co. Inc.,Standard Oil Co.,BP Overzee B.V.,BP Capital B.V.,BP Co. North America Inc.,BP Corp. North America Inc.,BP Finance Australia Ltd.,BP Australia Capital Markets Ltd.,Burmah Castrol Inc.,BP Capital Markets PLC,BP Capital Markets America Inc.,BP Canada Energy Co.,BP Developments Australia Ltd.,Amoco Argentina Oil Co.
Action: Various Rating Actions
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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