February 6, 2018 / 4:18 PM / a year ago

Moody's sees constraints on raising BP's rating in 2018

LONDON, Feb 6 (Reuters) - Ratings agency Moody's said on Tuesday it expected oil major BP to increase its profit and operating cash flow generation in 2018 but added it still saw constraints on raising its rating on the company.

"The decision to offset any scrip dividend payments with share buy backs starting in Q4 2017 and the ongoing Gulf of Mexico oil spill payments, which BP forecasts to be at just over $3 billion in 2018, could prevent the company from reaching the financial metrics expected for a higher rating in 2018," Moody's said in a statement. (Reporting by Dmitry Zhdannikov, editing by David Evans)

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