S&P: MOL unaffected

Standard & Poor's said that the ratings and outlook on MOL Hungarian Oil and Gas plc (BBB-/stable) remain unchanged, notwithstanding a likely rapid increase in debt following larger-than-expected share buyback plans and dividends.

"The ratings still include additional debt flexibility for significant share buybacks and small upstream acquisitions," said S&P credit analyst Karl Neitvelt.

"In particular, we take comfort from management's confirmation that 30% debt leverage is still the company's maximum target, which the current ratings can accommodate."

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