Scope Ratings assigned Hungarian oil and gas company MOL a BBB-issuer rating with a positive outlook, according to a report by state news wire MTI.
The rating is supported by a good financial risk profile but is held back by the relatively weak business risk profile, Scope said.
The positive outlook reflects Scope’s expectation of “a robust operating performance driven by supportive commodity prices” and MOL’s decreasing vulnerability to supply cuts from Russia as well as “a gradual reversal of regulatory interventions”, it added.
MOL sources more than half of its crude and a “significant amount” of its gas from Russia, Scope noted, while acknowledging the company’s efforts to diversify oil supplies and an improved situation on the European gas market.
