We believe that U.K.-based oil major BP PLC's operating performance remains satisfactory overall, supported by market conditions. Asset sales and underlying operating cash generation support BP's near-term financial flexibility. We are therefore revising the outlook on BP to stable from negative, and affirming our 'A/A-1' corporate credit ratings. The stable outlook primarily reflects our view of reduced downside risk to the group's credit quality and little evidence of further erosion of BP's business standing. On July 6, 2011, Standard&Poor's Ratings Services revised its outlook on U.K.-based international oil major BP PLC to stable from negative. At the same time, we affirmed the 'A/A-1' long- and short-term corporate credit ratings on the group. The outlook revision reflects our view
