Hungary expects two credit rating upgrades this year
The Hungarian government foresees at least two of the three big ratings agencies issuing upgrades by the end of this year, Hungary’s National Economy Ministry (NGM) said late Friday after Standard and Poor’s announced it had kept Hungarian debt below investment grade, according to reports.
“The government expects at least two of the three big ratings agencies to put Hungary into the investment-grade category in 2016,” the ministry said in a statement issued on Friday evening, according to Hungarian news agency MTI.
The ministry said S&P’s affirmation of the rating was expected. The NGM stressed in the statement that the ratings agency had acknowledged Hungary’s good economic performance, reduced external vulnerability and improved fiscal balance, MTI reported.
Earlier in March, after Moody’s left Hungary’s credit rating in “junk” territory, one step below investment grade, the ministry said the government expected at least two upgrades this year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.