BP has confirmed it will today publish its accident investigation report into the Gulf of Mexico disaster.
The report into the catastrophe will be published at noon today, after the investigation took five months to complete since the explosion on 20 April where 11 people died.

Investors will be keeping their eyes peeled for any specific detail which will hint at how the oil giant will defend itself should threatened legal proceedings continue.

In June, Fitch Ratings downgraded the company’s long-term issuer default rating (IDR) and senior unsecured rating by six notches to BBB from its previous rating of AA.

The ratings agency cited concerns about the increased likelihood that demands from the US government and federal authorities over the disaster which were likely to result in a ‘legally supportable move against the company.’

Analysts at Fitch said the potential financial impact on BP is wide-ranging and warned investors to expect Long-term litigation related damages.

The cost of civil fines if BP were to be found guilty of gross negligence or willful misconduct would be in the region of US $2 billion – US $8 billion, according to the ratings agency.

Read details of the report’s findings first at What Investment.co.uk later this afternoon.