ADVERTISEMENT

Moodyʼs upgrades deposit ratings of Erste Bank Hungary

Ratings

BalkansCat/Shutterstock.com

Moodyʼs Investors Service has upgraded Erste Bank Hungaryʼs long-and short-term local-currency deposit ratings to Baa3/Prime-3 from Baa2/Prime-2.

The outlook on the ratings remains positive. Moodyʼs also on Friday affirmed Erste Bank Hungaryʼs Baa3/Prime-3 long-and short-term foreign-currency deposit ratings, maintaining a stable outlook on the ratings, national news agency MTI reported.

The ratings agency upgraded the bankʼs baseline credit assessment from b1 to ba3. It affirmed Erste Bank Hungaryʼs long-and short-term Counterparty Risk Assessment at Baa2(cr)/Prime-2(cr).

"The rating action was prompted by Erste-Hunʼs improving credit fundamentals following balance sheet clean up and resumed lending on the back of Hungaryʼs supportive operating environment," Moodyʼs said in a press release sent to the Budapest Business Journal..

ADVERTISEMENT

OECD projects Hungary GDP growth will slow to 5% in 2022 Analysis

OECD projects Hungary GDP growth will slow to 5% in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.