Rating agency Fitch Ratings yesterday for the second time in a month again lowered rating British oil company British Petroleum (BP) to two levels above ‘junk’.

According to Fitch’s reduction from AA to BBB rating it as a response due to growing fears of adverse effects of oil spills in the Gulf of Mexico and the increasing pressure on the giant oil companies to address environmental damage. Previous mid-month BP Fitch also lowered ratings of AA + to AA.

“There are indications from the United States government experts that was significantly massive BP refinery oil spill will be conveyed to the U.S. Justice Department,” Fitch said, quoted from CNNmoney.

In another part, BP has denied the company would go bankrupt following the skyrocketing cost of handling the oil spill was estimated to the U.S. Senate could reach $ 20 billion in the next few years.

Fitch estimates that losses to civilians caused by the spill could reach $ 2-8 billion. While BP’s previous estimate of funds required to overcome the spill to reach USD1, 4 billion.