Moody’s leaves Hungary’s rating at Baa3
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Moodyʼs Investors Service did not upgrade Hungaryʼs sovereign rating further, although a review was on its EU sovereign rating calendar last Friday, the ratings agency said, according to Hungarian news agency MTI.
At its last review in 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 July 7.
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