ADVERTISEMENT

Moody's Changes MOL Outlook to 'Positive'

Ratings

Moody's Investors Service changed its outlook on Hungary's MOL and MOL Group Finance yesterday to "positive" from "stable," according to its latest report. 

The ratings agency also affirmed the oil and gas company's "Baa3" issuer rating and the "Baa3" rating of the backed senior unsecured Euro MTN program of MOL Group Finance. 

"The positive outlook on MOL's ratings reflects its improved diversification and earnings capacity since 2018 together with very strong credit metrics," Moody's said. 

MOL's oil and gas production has stabilized around 90,0000-100,000 barrels of oil equivalent per day until 2027 with the development of new reserves in Croatia, Azerbaijan and Kazakhstan, while it finalized the construction of a 205,000-tonne per year polyol facility in 2023 and will complete an upgrade of a refinery in Rijeka owned by Croatian unit INA in 2024, Moody's noted. 

MOL has also expanded its marketing and service network through acquisitions to around 2,400 petrol stations in 2023 from about 1,992 in 2022 while boosting per-station profitability, it added.

Ragweed Concentration Rising to Symptom-causing Levels Figures

Ragweed Concentration Rising to Symptom-causing Levels

EU's New Biometric Entry System Postponed Until November EU

EU's New Biometric Entry System Postponed Until November

Avg Blue-collar Hourly Wage Climbs 13.5% in Q2 HR

Avg Blue-collar Hourly Wage Climbs 13.5% in Q2

CATL Debrecen Becomes Sponsor of Campus Festival In Hungary

CATL Debrecen Becomes Sponsor of Campus Festival

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.