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BP Conf Call Headlines; Neutral For Credit

ENERGY SECTOR

BP (BP/ LN) headlines from conf call emerging, which appear to confirm rangebound view on credit: M&A tends to induce risk (so credit positive but they're pausing) but leverage reduction slowing and equity buybacks imply minor credit negative.


*BP CEO AUCHINCLOSS SAYS 'IT'S TIME TO PAUSE ON ACQUISITIONS'

*BP TO CONTINUE TO REDUCE LEVERAGE AT SLOWER PACE: CFO

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