S&P shifts MOL Hungarian Oil view to positive

S&P said it revised the outlook for MOL Hungarian Oil and Gas plc to positive from stable.

The company will fund the acquisition of some Chevron assets in Azerbaijan from available liquidity sources.

“We believe the acquisition, expected to close in second-quarter 2020 subject to government and regulatory approvals, will strengthen MOL's business profile despite increasing leverage,” said S&P in a press release.

S&P affirmed the BBB- rating on MOL and its senior unsecured debt.

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