Fitch: MOL affirmed at ‘BBB-’ with negative outlook

Deals

Fitch Ratings on Wednesday affirmed Hungarian oil and gas company MOLʼs long-term issuer default rating at ‘BBB-’ with a negative outlook. The negative outlook "reflects pressures on the companyʼs operations from the challenging upstream environment and uncertainties over management rights in its Croatian subsidiary INA", Fitch said.

The outlook also takes into account potential risks associated with acquisitions in the upstream segment which could "bring the leverage metrics above our guidance depending on the size and timing of possible transactions as well as their contribution to EBITDA", it added. Fitch noted that tensions between the Croatian government and MOL over the corporate governance structure of INA "intensified" in 2013, "but so far with limited consequences for the financial profile and operations of both companies".

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.