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British Petroleum Rtgs Affmd; Outlook to Pos by S&P Dec 95
Standard & Poors, Dec 1995
Abstract
LONDON -- Standard & Poor's CreditWire 12/12/95 -- Standard & Poor's affirms its double-`A'-minus/`A-1'-plus ratings on debt issues guaranteed by British Petroleum PLC ('BP') and changes the outlook on the long-term rating to positive from stable. The positive outlook means that BP's long- term rating of double-`A'-minus could be upgraded over the next two to three years if their business position (size and spread of reserves, production levels, cost profile, etc.) continues to improve and the company maintains their currently strong financial profile. The challenge for British Petroleum is to bring onstream low-cost oil and gas production from its attractive range of development projects. BP's creditworthiness should continue to benefit from management's clearly defined operational and financial goals over the...
Companies mentioned in this report are: BP PLC
Action: New Rating
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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