Louisiana has so far received significantly more cash from BP than from the federal government for remediation of environmental and economic damages from the oil spill in the Gulf of Mexico, Standard & Poor’s said last week in a report on fiscal damages suffered by Gulf Coast state and local governments.

The oil company has given $25 million of grants to Louisiana, Alabama, Florida, and Mississippi for clean-up of beaches and a total of $70 million to the four states to promote tourism, Standard & Poor’s said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.