64°
Baton Rouge, Louisiana
3 Day Outlook
Tue
74°
54°
70%
Wed
72°
50°
10%
Thu
78°
53°
0%

Latest Weather Blog

Follow our weather team on social media

Credit agency drops ratings for BP

4 years ago Thursday, June 03, 2010 6:35:53 AM CDT June 03, 2010 Thursday, June 03 2010 Jun 3, 2010 in News
Source: Associated Press

The credit ratings agency Fitch became the first to downgrade BP, noting the extreme financial risks tied to the ongoing Gulf oil spill.

"The company has so far repeatedly failed to stop the resultant oil leak and has instead reverted to containment methods that are yet to be fully implemented and are subject to potential weather-related disruption," the ratings agency says.

Fitch says further downgrades are possible.

Fitch estimates that BP's efforts to plug the well and clean up the oil will cost between $2 billion and $3 billion this year.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
64°
63°
Tue
Scattered T-Storms
74°
54°
Wed
Partly Cloudy
72°
50°
Thu
Mostly Sunny
78°
53°
Fri
Sunny
80°
54°