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BP PLC Outlook Revised To Negative On Uncertainty Of Future Costs Including Those From Oil Spill; Ratings Affirmed May 10
Standard & Poors, May 2010
Abstract
-- U.K.-headquartered oil major BP is contending with operational challenges to stem and clean up the oil spill in Gulf of Mexico. -- The company faces increased uncertainly over potential longer term remedial costs relating to environmental damage. -- We are revising the outlook on BP to negative from stable and affirming the 'AA' long-term and 'A-1+' short-term corporate credit ratings. -- The outlook reflects potential pressure on BP's financial flexibility, which is already limited at the rating level, in our view. LONDON (Standard & Poor's) May 7, 2010--Standard & Poor's Ratings Services said today that it revised the outlook on U.K.-headquartered oil major BP PLC to negative from stable. At the same time, we affirmed the 'AA' long-term and...
Companies mentioned in this report are: BP PLC
Action: Affirmed
Action: Outlook: Negative
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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