Moody's: MOL Hungarian Oil view up to stable

Standard & Poor's said it revised its outlook on MOL Hungarian Oil and Gas plc to stable from negative, and affirmed its BB+ long-term corporate credit rating.

The stable outlook reflects expectations that industry conditions will improve in 2010 from the 2009 trough year, S&P said.

The agency also said it assumed that MOL will pursue a supportive financial policy with modest shareholder distributions and acquisitions, given material capital expenditure and still challenging refining industry conditions.

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