Debt investor information
Our Financial frame – accelerating the pace of strengthening the balance sheet.
bp is committed to strengthening the balance sheet and continue to target improvement of our ‘A’ range credit metrics through the cycle.
We are targeting net debt of $14–18 billion by end 2027, supported by:
- Growing cashflow and returns
- Disciplined capital allocation
- A $20 billion divestment programme through 2027
All proceeds from the Castrol transaction will be fully allocated to strengthening the balance sheet.
Credit ratings
We are focused on managing our balance sheet to support our strong investment grade credit rating and maintain an active dialogue with three credit rating agencies – Fitch, Moody’s and S&P.
| Long term credit rating | Fitch | Moody's | S&P |
|---|---|---|---|
| A+ | A1 | A- | |
| Outlook | Stable | Stable | Stable |
Key analysts information:
Fitch Ratings
Oliver Schuh
oliver.schuh@fitchratings.com
Moody's Investors Service Ltd
Roberto Pozzi
Roberto.Pozzi@moodys.com
S&P Global Ratings
Simon Redmond
simon.redmond@spglobal.com
Outstanding bonds
Below is a summary of outstanding and publicly listed bonds issued by BP Capital Markets P.l.c., BP Capital Markets B.V., and BP Capital Markets America Inc.
Maturity profile
As at 31 December 2025
