(Tiper Stock Exchange) – Moody’s has changed the outlook Of BP extensiona British energy giant, to Positive from Stable. A2 rating confirmed. A few days ago the company announced that the underlying replacement cost profit (the company’s definition of net income) has jumped to $28 billion in 2022.
“The positive outlook reflects the substantial debt reduction over the past two years and a capital allocation policy that allows for further debt reductions if oil and gas prices remain at current levels or higher,” said Tobias Wagner, Moody’s Lead Analyst for BP.
“Combined with a moderate base dividend and despite a substantial ongoing buyback, the better balance sheet strength of BP looks like it will persist through various market environments,” he added.
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