S&P lifts MOL view to positive

Standard & Poor’s said it revised the outlook on MOL Hungarian Oil and Gas plc to positive from stable.

The agency also said it affirmed the company’s BB long-term corporate credit rating, along with the BB ratings on its senior unsecured debt instruments and B ratings on the its junior subordinated debt.

The positive outlook reflects a view that MOL’s financial risk profile could strengthen over the next 18 months on the back of a stronger performance than expected in the base-case scenario, S&P said.

MOL’s financial performance in 2014 and so far in 2015 has been supported by a strong downstream contribution that has largely offset the impact of lower oil prices, the agency said.

The company’s plans for efficiency improvements in its downstream division and increase retail sales in its petrol stations also will support its financial performance, S&P said.

© 2015 Prospect News.
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