DBRS downgrades BP

DBRS said it downgraded the issuer rating of BP plc to AA (low) from AA (high). The rating remains under review with negative implications, where it was placed on June 2.

The action reflects the negative considerations and considerable uncertainties associated with the protracted oil spill in the Gulf of Mexico, as well as the company's financial and operational strength as well as its global reach, according to the agency.

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