|
|
 |
|
Viewing report
|
|
|
|
BP Off CreditWatch, 'AA+/A-1+' Ratings Affirmed; TNK Remains on Watch Positive May 03
Standard & Poors, May 2003
Abstract
PARIS (Standard & Poor's) May 7, 2003--Standard & Poor's Ratings Services said today that it affirmed its 'AA+' long-term corporate credit ratings on U.K.-based oil major BP PLC (BP) and related entities, and removed the ratings from CreditWatch, where they had been placed on Feb. 11, 2003. The affirmation is based on Standard & Poor's view that a plan by BP and the majority shareholders in TNK International Ltd. (TNK)--Alfa Group and Access-Renova (AAR)--to combine their oil interests in Russia will not undermine BP's conservative financial profile. The outlook on BP is stable. At the same time, the 'A-1+' short-term ratings on the BP group, which were not on CreditWatch, were affirmed. BP had net financial debt of $17.7 billion...
Companies mentioned in this report are: BP PLC,TNK-BP International Ltd.
Action: Affirmed, Off CreditWatch
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.
|
|
|
|
