Moody's (NYSE:MCO) Maintaining BP's (NYSE:BP) Rating

Moody's (NYSE:MCO) they have no further downgrades for oil giant BP's (NYSE:BP) credit rating, adding they continue to see the outlook for the company as stable.

The company said, "Today's (Friday) rating action concludes the review for possible downgrade of BP's ratings that Moody's initiated on 3 June."

With the oil well permanently plugged, and the liabilities becoming a little clearer and able to be somewhat estimated, the current A2 credit rating will stay in place "under a range of likely outcomes for the ultimate total costs resulting from the oil spill," said Moody's.

That's not to say there won't be future credit pressures as the costs from claims and lawsuits mount up for BP, but the downgrading of several notches has included those factors in those actions Moody's took recently.

In other words, there could be more downgrades in the future, but in the short term the credit rating should remain where it is for the company.