Analysts expect Fitch to keep Hungary rating unchanged
Analysts polled by Hungarian news agency MTI do not expect Fitch Ratings to change either the investor-grade rating or the stable outlook of Hungary debt at a review to take place today, according to the news agency.
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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