Research Update: Oil And Gas Major BP Outlook Revised To Positive On Strengthening Financial Risk Profile; 'A/A-1' Ratings Affirmed Jul 12
- Language: English
- Published: July 2012
The ratings on Channel Islands-based Jupiter Insurance Ltd. (Jupiter) are significantly influenced by the ratings on Jupiter's ultimate parent, U.K.-based BP PLC (BP; AA+/Stable/A-1+). Stand-alone rating factors include Jupiter's extremely strong capitalization and strong operating performance. These positive factors are partially offset by Jupiter's business position, which is severely restricted, and operating performance, which, although strong, is nevertheless subject to extreme volatility. Jupiter is the main captive insurer of the BP group, which is one of the world's largest diversified energy, oil, and petrochemicals groups. Since the early 1990s, the BP group has followed a policy of purchasing insurance only when legally or contractually obliged to do so. Ownership. Jupiter is a wholly owned captive insurance subsidiary of BP. Jupiter...
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Research Type: Full Analysis
Jupiter Insurance Ltd.,BP Products North America Inc.,Anaconda Co. (The),ARCO Pipeline Co.,Atlantic Richfield Co.,Atlantic Richfield Overseas Finance N.V.,BP PLC,Standard Oil Co. Inc.,Standard Oil Co.,BP Overzee B.V.,BP Co. North America Inc.,BP Corp. North America Inc.,BP Finance Australia Ltd.,Union Texas Petroleum Holdings Inc.,Burmah Castrol Inc.,BP Capital Markets PLC,BP Capital Markets America Inc.,BP Canada Energy Co.,Burmah Castrol PLC,Vastar Resources Inc.,Amoco Argentina Oil Co.