BP credit rating downgraded!

  Uboat 12:12 15 Jun 10
Locked

How does this affect the company.?

click here

  Quickbeam 12:17 15 Jun 10

Cash on delivery for drilling items?

  sunnystaines 15:12 15 Jun 10

perhaps a good time to buy its shares as they will rocket back up in a few years when all this has died down.

  interzone55 15:23 15 Jun 10

I hope I'm not being overly cynical here, but this situation looks like a massive case of market manipulation.

Seriously talk down a company, get their credit rating downgraded, shares fall through the floor, then buy any shares available.

3 or 4 years later make a killing.

It happened to M&S in the 90's when the Pru started to unload their shares.
It happened after 9/11 to various insurance companies.

It will be interest seeing who buys BP shares over the next few weeks...

  michaelw 15:32 15 Jun 10

Yep, I've been thinking the same, but there's always a risk. If the shares fall too drastically then there are several options. One is a takeover, in which case the shares would inevitably rise again; or there's other options: click here

  rawprawn 18:15 15 Jun 10

I think at todays price I will have a go as michaelw points out I think there is very little risk either way.
It is also worth remembering that 1 in 4 shares are held in America.

  shellship 18:22 15 Jun 10

I've read that BP is 40% owned by Americans, not 25%.

  Forum Editor 18:30 15 Jun 10

if BP was looking to borrow large sums of money - which it isn't. That being the case, the credit rating change by one major agency is hardly likely to bring the company to its knees.

Don't run away with the idea that BP is a business heading for the edge of a cliff. The company is still receiving huge sums in oil revenues every day, especially as the current price of oil is in excess of the level that was budgeted for in the company's forward forecasts.

Yes, the share price has taken a big hit, but it will recover. In a worst case scenario BP is exposed to an aggressive takeover bid by one of the major names - Exxon springs to mind, and there would be than a touch of irony in that.

  Forum Editor 18:32 15 Jun 10

just under half of all BP shares are owned by americans, or by american companies.

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