|
|
 |
|
Viewing report
|
|
|
|
BP PLC Dec 10
Standard & Poors, Dec 2010
Abstract
Underlying profitability and cash generation of massive upstream reserves and production. Diversity from geographical spread, with OECD core assets; and some from upstream and downstream mix. Conservative debt and liquidity management. Proven asset marketability and financial flexibility. Material costs and cash outflows, and investigation and litigation uncertainties relating to the oil spill from the Macondo well in the Gulf of Mexico from April 2010, especially after previous accidents in North America. Inherently cyclical, volatile, and capital intensive oil industries, with presently depressed U.S. gas prices. Exposure to some concentrated country risks. Exposure to unfunded pensions and funding volatility. The ratings on U.K.-headquartered oil major BP PLC reflect Standard & Poor's Ratings Services assessment of the group's strong business risk profile...
Companies mentioned in this report are: BP PLC,BP Products North America Inc.,Atlantic Richfield Co.,Standard Oil Co. Inc.,BP Pipelines (Alaska) Inc.,BP Company North America Inc.,BP Corporation North America Inc.,Union Texas Petroleum Holdings Inc.,Burmah Castrol PLC,Jupiter Insurance Ltd.,BP Finance PLC,BP America Production Co.
Action: Review
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: Full Analysis
|
|
|
|
