Moody's cuts BP ratings again
June 18, 2010 The downgrade comes three days after scientists gave a new
estimate of 2.52 million gallons of crude a day leaking into the
Gulf of Mexico from a well that BP was drilling.
Moody's cited the worsening impact of the oil spill and says the
catastrophe will hurt its finances for years to come.
Moody's on Friday cut all of the long-term debt securities by
three notches to "A2" from "Aa2." It's Moody's second downgrade
for BP this month.
Moody's is reviewing the ratings and could downgrade them again.
Other ratings agencies are also considering more downgrades.
