S&P Global Ratings (“S&P”) revises outlook to positive from stable on Zenith Pure Oil’s credit rating
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:
S&P revised the outlook to positive from stable, while affirming its 'BB+' long-term corporate credit rating on Zenith Pure Oil Hungarian Oil and Gas plc.
The rating agency added that the positive outlook reflects the likelihood of an upgrade if Zenith Pure Oil's credit metrics continue to strengthen on the back of robust performance and positive free cash flow generation.