bp has a clear, consistent and disciplined financial framework and maintaining a strong investment grade credit rating remains our second priority within this financial frame, after a resilient dividend.
For 2023 we intend to continue to allocate 40% of surplus cash flow to further strengthen the balance sheet and now target further progress within an ‘A’ grade credit rating.
We are focused on managing our balance sheet to support our strong investment grade credit rating and maintain an active dialogue with three credit rating agencies – Fitch, Moody’s and S&P.
|Long term credit rating||Fitch||Moody's||S&P|
Below is a summary of outstanding and publicly listed bonds issued by BP Capital Markets P.l.c., BP Capital Markets B.V., and BP Capital Markets America Inc.
As part of actively managing its debt portfolio, the group bought back $7.4billion of finance debt in 2022 consisting entirely of US dollar bonds. In 2021 the group bought back $4.2bn of US dollar bonds.
bp reports another quarter of strong earnings driven by high reliability and strategic delivery in its latest results
Find useful information about bp dividends and learn how to manage your shareholding online
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