SandP Global Ratings revised the outlook for Hungarian oil and gas company MOL from "stable" to "positive" after it announced the acquisition of exploration and production as well as midstream stakes in Azerbaijan from Chevron, state news wire MTI reported.
"We believe the acquisition... will strengthen MOLE1/4s business profile despite increasing leverage," SandP Global Ratings said. "We are therefore revising our outlook on MOL to positive from stable, and affirming our BBB- ratings on MOL and its senior unsecured debt."
"The positive outlook indicates that we could raise the ratings in the next 24 months if MOLE1/4s business resilience and diversity strengthen, and it restores its credit metrics," it added.
MOL announced on Monday that it agreed to acquire a 9.57percent stake in the...