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NU Online News Service, June 21, 11:40 a.m. EDT

A.M. Best Co. has downgraded the financial strength rating (FSR) and issuer credit rating (ICR) of British Petroleum’s captive insurer, Jupiter Insurance Limited, over concerns regarding the Deepwater Horizon oil spill in the Gulf of Mexico.

Oldwick, N.J.-based A.M. Best said it downgraded Jupiter’s FSR to “A” from “A-plus” and downgraded the Guernsey-based captive’s ICR to “a” from “aa-minus.”

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