S&P ups MOL Hungarian Oil

S&P said it raised the long-term corporate credit rating on MOL Hungarian Oil and Gas plc to BBB- from BB+ and raised the issue rating on the senior unsecured bonds to BBB- from BB+.

The outlook is stable.

“The upgrade is primarily based on the improvement in MOL's current and, in turn, forecast credit metrics, thanks to the company's strong performance and supportive industry conditions, notably high refining and petrochemical margins,” the agency said in a news release.

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