S&P: MOL unchanged

Standard & Poor's said its ratings and outlook on MOL Hungarian Oil and Gas plc (BBB-/stable) remain unchanged following an announcement that the group intends to buy back up to 10% of its shares to optimize its capital structure.

At current prices, a 10% buyback would cost about €1.1 billion, the agency said.

Although the proposed buyback would increase MOL's debt level, S&P added that it expects the group to adhere to its financial policy targets and keep its financial profile in line with the rating requirements.

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