Fitch Downgrades BP Rating

Fitch Ratings downgraded BP, becoming the first agency to cut the oil major’s credit rating and reversing its initial view that the financial impact of the Gulf of Mexico oil spill on BP would be limited. “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,” Fitch said on Thursday. ” – Reuters

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