According to a press release sent to the Budapest Business Journal, the withdrawal decision, announced Tuesday, was made for business reasons, according to Moody’s.
Both ratings carried a positive outlook prior to the withdrawal.
In a brief statement, Moody’s cited its own business reasons for the withdrawal and referred stakeholders to its Withdrawal of Credit Ratings Policy, available on the company’s website.
MOL is a major Central European integrated oil and gas company with diversified operations across upstream, downstream, and gas midstream sectors, Moody’s noted.
Headquartered in Budapest, the company generated revenues of approximately USD 24.6 billion and reported assets of USD 21.2 bln as of the end of 2023.
MOL’s operations are primarily concentrated in the Central and Eastern European (CEE) region.
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