NY -- Standard&Poor's CreditWire 7/23/96 -- Standard&Poor's today has raised to double-`A' from double-`A'-minus its senior unsecured rating of The British Petroleum Co. PLC (BP) and related entities. The outlook is revised to stable from positive. The ratings reflect BP's standing as one of the world's largest integrated oil and gas firms, and its very solid and improving financial profile. The rating upgrade reflects an impressive turnaround of both its operational and financial positions in recent years in a relatively difficult industry environment. BP's key upstream activities are heavily skewed towards the relatively mature provinces of Alaska and the North Sea at present, but this will steadily change over the coming years as production comes on
