Debt investor information
Our balance sheet strategy
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.
At current market conditions and subject to maintaining a strong investment grade credit rating, bp plans share buybacks of at least $14 billion through 2025 as part of our commitment, on a point forward basis, to returning at least 80% of surplus cash flow to shareholders.
A chart showing the continued strengthening of the balance sheet
Credit ratings
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 |
|---|---|---|---|
| A+ | A1 | A- | |
| Outlook | Stable | Stable | Stable |
Key analysts information:
Fitch Ratings
Oliver Schuh
oliver.schuh@fitchratings.com
Moody's Investors Service Ltd
Roberto Pozzi
tobias.wagner@moodys.com
S&P Global Ratings
Alexander Griaznov
alexander.griaznov@spglobal.com
Outstanding bonds
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.
Maturity profile
As at 31 March 2025
