Moody's changes OMV view to stable

Moody's Investors Service said it changed OMV AG’s outlook to stable from negative and affirmed the company’s ratings, including its A3 long-term issuer rating.

“Today's affirmation with a stable outlook reflects the rating agency's expectation that OMV will be willing and able to restore its credit metrics in line with its A3 long-term issuer rating latest through 2022, such as Moody's adjusted RCF/net debt in the mid- 30% (around 23% for 12 months to March 2021). This improvement will be supported by a gradual pick-up in activity in the company's refining business as mobility restrictions ease, as well as the continuation of its discipline in managing the capital allocation priorities,” the agency said in a press release.

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