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Report: S&P to review Hungaryʼs credit rating on Friday

Ratings

Standard & Poorʼs Ratings Services will review Hungaryʼs sovereign credit rating on Friday with a possibility of upgrading the outlook to "positive" from "stable", according to Morgan Stanleyʼs analysts, Hungarian news agency MTI reported. 

The analysts said the forint conversion of FX mortgage loans has reduced the economyʼs external vulnerability and removed this "structural anomaly", which could result in a credit outlook upgrade. In its previous review in March S&P raised Hungaryʼs sovereign credit rating to "BB plus" from "BB", citing improving growth prospects and reduced external vulnerability.

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