According to a report by news wire MTI, the issue’s rating is in line with Magyar Eximbank’s “BBB” long-term issuer default rating.
Fitch noted that the rating is equalized with Hungary’s sovereign rating, driven by the rating agency’s view of the authorities’ high propensity to provide support to the bank, if required.
The report added that the seven-year euro-denominated Magyar Eximbank bonds will be listed on the London Stock Exchange.
Proceeds from the sale will be used for general purposes.
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