The rating agency Moody’s has assigned the first-time Baa3 issuer rating to Hungarian oil and gas company MOL, with the stable outlook.
Concurrently, Moody’s has assigned a Baa3 rating to MOL’s 750 million euros senior unsecured notes due 2023, as well as to 500 million dollars senior unsecured notes due 2019. The statement from Moody’s said that the agency’s assignment of 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.
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Tags: financial, fuel, gas, Hungary, Mol, Moody's, oil