Hungary rating not updated – Moodyʼs

Moodyʼs Investors Service did not update Hungaryʼs sovereign rating on Friday, although it was scheduled for a review, Hungarian news agency MTI reported.

Moodyʼs also did not update Hungaryʼs sovereign rating at a scheduled review on March 3.

At a review last November, Moodyʼs raised Hungaryʼs rating by one notch from Ba1 to Baa3, putting the country back in investment grade. The outlook on the rating is stable.

Explaining the rationale for the ratings action in November, Moodyʼs said Hungaryʼs debt burden will continue to gradually decline and structural improvements will support positive growth rates, while the countryʼs external vulnerability has been significantly reduced.

Moodyʼs next scheduled review of Hungary is on October 20.

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