BP shares were downgraded by France NATIXIS Bleichroeder

Time 6/07/2010 07:08:00 AM
Natixis Bleichroeder downgrades BP plc (NYSE: BP) from Buy to Neutral.

President Obama's now saying about BP, "We will make sure they pay every dime." He also pledged months ago that big banks would repay "every single dime" of bailout money.

The new prime minister of the United Kingdom, David Cameron, focused his campaign in weaning Britain's economy out of the funding - and BP is one of the nation's marquee companies non-financial. If the losses for the cleaning and damage exceed the capacity of BP to pay, the British will not stand by and watch as the shareholders and creditors may - "big fish, but no British pensioners," the rule - lose . Nor will the British stand by if a U.S. company as ExxonMobil tries to sweep and buy the best assets of BP on the cheap.

BP estimates that it will spend about $84 million through June to compensate for lost wages and profits caused by the spill. The company has promised to pay all legitimate claims, and no claim has yet been rejected, Wine said.