Moody’s rates MOL, notes Baa3

Moody's Investors Service said it assigned a Baa3 issuer rating to MOL Hungarian Oil and Gas plc.

"Our assignment of a Baa3 rating to MOL balances its robust financial profile supported by solid liquidity, and market-leading position in Central and Eastern Europe in its oil refining and marketing business, against its lack of geographic diversification and small scale relative to its European peers in the upstream segment," Moody’s analyst Shruti Kulkarni said in a news release.

Concurrently, the agency assigned a Baa3 rating to MOL's €750 million senior unsecured notes due 2023, a provisional Baa3 rating to its $1 billion euro medium-term note program, and a Baa3 rating to the $500 million senior unsecured notes due 2019, both issued by MOL Group Finance SA.

The outlook on all ratings is stable.

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