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.

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