Moodyʼs affirms Baa3 issuer ratings of Budapest, changes outlook to positive

Ratings

Photo by Gil C / Shutterstock.com

Moodyʼs Investors Service, has affirmed the Baa3 local and foreign currency issuer ratings of Budapest and changed the outlook to positive from stable, according to a press release sent to the Budapest Business Journal.

Photo by Shutterstock.com

The affirmation of the ratings and the outlook change to positive reflect the improving systemic risk as captured by Moodyʼs changing the Hungarian governmentʼs (Baa3 positive) ratings outlook to positive from stable, as well as the expectation of continued strong intrinsic strengths of Budapest, the press release notes.

Given the important fiscal and macroeconomic linkages between the city and Hungary, improvements in the credit quality of the sovereign will translate into positive impacts on the credit quality of the city, Moodyʼs notes.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.