NEW YORK (TheStreet) -- BP (BP) - Get Report will take an additional $2.5 billion after-tax charge in the second quarter to settle the remaining claims related to the 2010 Deepwater Horizon oil spill.

This payment is expected to include a pre-tax charge of about $5.2 billion, which would bring the total pre-tax amount associated with the incident to $61.6 billion, or $44.0 billion after tax, according to a company statement.

"Over the past few months we've made significant progress resolving outstanding Deepwater Horizon claims, and Thursday we can estimate all the material liabilities remaining from the incident," CFO Brian Gilvary said in a statement.

"Importantly, we have a clear plan for managing these costs and it provides our investors with certainty going forward," Gilvary added.

Shares of the London-based oil and gas company are nonetheless up 0.14% to $36.61 in late-afternoon trading as oil prices rebound from yesterday's losses.

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

BP's strengths such as its good cash flow from operations and largely solid financial position with reasonable debt levels by most measures are countered by weaknesses including deteriorating net income, poor profit margins and disappointing return on equity.

You can view the full analysis from the report here: BP

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.