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Fitch revises outlook of four Hungarian banks to positive

Fitch Ratings revised the outlook on four Hungarian banks from "stable" to "positive" on Monday.  The move followed a similar revision of Hungaryʼs long-term foreign and local currency Issuer Default Ratings (IDRs) from "stable" to "positive," when Fitch also affirmed the IDRsʼ ʼBBB-ʼ rating in a scheduled rating action on November 10.  

On Monday afternoon, Fitch announced in London that it had upgraded the outlook on the state-owned Magyar Export-Import Bank (Eximbank) and Hungarian Development Bank (MFB), as well as on Erste Bank Hungary and K&H Bank.

At the same time, the credit rating agency affirmed the ʼBBB-ʼ long-term ratings of Eximbank and MFB, as well as the ʼBBBʼ long-term ratings of Erste Bank Hungary and K&H.