Analysts: Hungary’s rating could be updated to investment grade
Fitch Ratings could upgrade Hungaryʼs sovereign credit ratings to investment grade by the end of this year, London-based emerging markets analysts said on Friday, according to Hungarian news agency MTI.
In its weekly "CEEMEA Compass" overview of emerging market developments released to clients in London, Morgan Stanley said that Hungary is now "a step closer" to investment grade as Fitch had revised its outlook on Hungaryʼs ratings from stable to positive last week, paving the way for a possible upgrade back to investment grade status later this year.
Assuming the 2016 budget is conservative, the bank tax falls as planned and "there are no negative surprises", Fitch could upgrade Hungary back to investment grade even by November 20, which is the date of its next review, Morgan Stanleyʼs analysts said. Moody’s Investors Service and Standard & Poorʼs may also upgrade their outlook on Hungary, currently both stable, to positive this year, they added.
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