Oil rig insurance up, BP credit rating down

by Cedwyn

First off, everyone worried about BP's pension obligations to former employees can breathe a sigh of relief; expert consensus seems to be that BP has the bankroll to survive this.  If they heed the calls from Congress and elsewhere to forgo their $10 billion dividend payment, they probably will be fine for covering expenses.   Then again, no one appears able to agree on just what the total costs will be, especially since that's a function of just how much oil is leaked.  Hayward fantasizes that clean-up costs will be in the neighborhood of $3.5 billion.  * snigger *  Other analysts at Credit Suisse estimate closer to $15-23 billion, with another $23 billion in compensation claims.  There is agreement, though, that BP will come through this.  The question is, in what condition?

continued at Daily Kos....