Fitch revises MOL outlook to stable

Fitch Ratings said it revised the outlook on MOL Hungarian Oil and Gas Co. plc to stable from negative and affirmed the long-term issuer default rating at BBB-.

“The revision of the outlook reflects that while a halt in Russian oil and gas supplies to Hungary cannot be ruled out given the ongoing war in Ukraine and hostilities between Russia and the E.U., we believe there is a lower risk of the negative scenario materializing. We also believe that MOL is better placed to weather material disruptions in Russian supplies due to its increasing capability to replace Russian oil by half by December 2023 with a full self-sufficiency expected by 2025 and source gas from alternative routes,” Fitch said in a press release.

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