Similar Stories to Moody's Cuts Bp Ratings, Again on Bing News

It cut all of BP's long-term debt securities by three notches to "A2" from "Aa2." It is the second time this month that Moody's has downgraded the company and follows downgrades from other ratings agencies as well. Moody's cited the worsening impact of the oil spill and said the catastrophe will hurt BP's finances for years to come. The ratings agency noted that BP's funding of a $20 billion spill fund doesn't limit its impact for the spill. Moody's is reviewing the ratings and could downgrade them again.

Topics:  a2   aa2.   company   gulf oil spill   bp   moody   ratings   impact   debt   fund   billion   
BING NEWS:
  • BP cuts over 5% of workforce to reduce costs
    Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, ...
    01/16/2025 - 9:06 am | View Link
  • In Depth: bp Cuts Thousands of Jobs to Save US$2bn
    bp is set to cut 4,700 jobs and 3,000 contractor roles, 5% of its staff, to help save the £1.6bn — and cost-cutting efforts are set to continue ...
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  • BP Cuts 4,700 Internal, 3,000 Contractor Roles as it Trims Costs
    Employees at the oil-and-gas giant were told of the job cuts Thursday via an email from Chief Executive Murray Auchincloss.
    01/15/2025 - 11:29 pm | View Link
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