BREAKING NEWS

BREAKING NEWS

Fitch cuts BP's rating

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Fitch cuts BP's rating

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The international ratings agency Fitch has cut BP’s rating from AA+ to AA because of higher risks that it might default on its debt due to increased costs from the Gulf of Mexico oil disaster.

Fitch placed BP on negative watch and said it could still face more downgrades from other “substantial” risks connected to the worst oil spill in US history, including failing to halt the leak “in a timely fashion.”