Moody’s leaves Hungary’s credit rating in ‘junk’ territory
Hungary’s credit rating remains in “junk” territory, one step below investment grade, Moody’s Investor Service announced after the close of business on Friday, according to reports.
Although the stock market had rallied Friday, in anticipation of good news from Moody’s, the decision by the ratings agency to leave Hungary’s sovereign debt rating at “Ba1” had been anticipated by analysts. Most analysts polled last week said they expected that Moody’s is likely to improve Hungary’s credit rating some time later this year.
In November, Moodyʼs changed the outlook on Hungary’s rating to “positive” from “stable”, and analysts said that means an upgrade is likely in July or November, when Moody’s next revisits Hungary’s rating.
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