Moodyʼs Investors Service has released its brand new "Global Emerging Markets Chartbook," outlining key ratings trends and drivers for emerging market sovereigns, non-sovereigns, and high-yield corporates, and rating Hungary as investment grade, according to a press release sent to the Budapest Business Journal.
Hungary is rated "Baa3" in the report, the same as Romania, Kazakhstan and South Africa. Of the 101 emerging market sovereigns investigated in the report, 32 are investment grade, with Latin America and Asia-Pacific having the most sovereigns in this category. The highest rating (Aa2) are awarded to Abu Dhabi, Kuwait, and the UAE.
The report classifies 69 countries as "below investment grade," with Africa and the Middle East being the most represented regions in this category. The lowest-rated country is the crisis-ridden Venezuela, given only a "C."