Moody's officials on visit in Hungary

Ratings

Officials of ratings agency Moody's are on a visit in Hungary, Finance Ministry spokesman Ferenc Pichler told on Thursday, adding that this is but one of the regular meetings between ratings firms and the government.

"This is nothing extraordinary. Delegations from credit rating agencies come regularly," Pichler said, adding that officials from another rating agency were in Hungary on Wednesday. On 25 September, Moody's Investors Service placed Hungary's A1 local and foreign currency government bond ratings and its A1 foreign currency bank deposit ceiling rating on review for possible downgrade. This is three notches better than the rating of Standard & Poor's and Fitch. The agency has not changed the rating since 2002, but moved to negative outlook in February. István Zsoldos of Goldman Sachs said than that Moody's statement made it "very likely " that there would be a downgrade, adding that the question was whether it would be a one- or two-notch move. Pichler declined to comment a question whether there was a connection between the negative outlook and the visit of Moody's officials. (portfolio.hu)

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.

Support the BBJ

Finance

S&P Revises Croatia's Outlook to Positive

Economy Finance | Sep 20, 2023, 10:05

Moody's Affirms Hungary Baa2 Rating, Stable Outlook

Economy Finance | Sep 4, 2023, 10:00

S&P Raises Bosnia's Long-Term Ratings

Economy Finance | Aug 9, 2023, 14:25