Fitch was the first international rating agency to raise back Hungaryʼs rating to ʼBBB minusʼ, or back to investment grade, just a year ago, on May 20, 2016.
Gergely Űrmössy and Orsolya Nyeste of Erste bet for no-change. Gergely Pálffy of Raiffeisen Bank agreed but noted that there is some market expectation for an upgrade. He cited the forintʼs strengthening to the euro after the lower-than-expected 2.2% April CPI came out on Wednesday, and the emergence of foreign investors on the government bond market.
Standard and Poorʼs affirmed Hungaryʼs BBB- long term credit rating and stable outlook on February 24. Moodyʼs Investors Service did not update Hungaryʼs rating at a scheduled review on March 3. The agencyʼs next scheduled review of Hungary is July 7.
All three ratings agencies have Hungary at the bottom of investment grade.
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