Fitch cuts BP rating, puts on negative watch amid oil spill

3rd June 2010, Comments 0 comments

International ratings agency Fitch lowered BP's rating from "AA+" to "AA" on Thursday and placed it on negative watch, citing risks arising from the Gulf of Mexico oil disaster.

"The downgrade of BP's ratings reflects Fitch's opinion that risks to both BP's business and financial profile continue to increase following the Deepwater Horizon accident in the US Gulf of Mexico," it said in a statement.

© 2010 AFP

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