Hungary "wouldn't be well-placed" without IMF deal, says Fitch director

Ratings

Hungary "wouldn't be well-placed" if it fails to reach an agreement on precautionary financial assistance it is seeking from the International Monetary Fund and the European Union, Paul Rawkins, the head of Fitch's Emerging Europe sovereigns unit, said at a conference in London on Wednesday, Reuters reported.

"Recently there has been some talk of Hungary going it alone, that would bother us. They do have weaknesses, there is a lot of market volatility and they wouldn't be well-placed to deal with that," Rawkins told a conference in London.

Rawkins declined to say whether Fitch would cut Hungary's 'BB+' sovereign rating if it failed to reach a deal with the IMF/EU.

The outlook on the rating is negative.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.