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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

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+ A2 A-
Outlook  Stable Positive Positive

Key analysts information:

Fitch Ratings

Oliver Schuh
oliver.schuh@fitchratings.com

 

Moody's Investors Service Ltd

Tobias Wagner
tobias.wagner@moodys.com

 

S&P Global Ratings

Simon Redmond
simon.redmond@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 December 2023
 

As part of actively managing its debt portfolio, the group bought back of $1.7 billion equivalent of finance debt in 2023 and $7.4 billion in 2022.

Stock market charts and graphs
For more information please contact debtir@bp.com