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S&P Global Ratings on Monday said it raised its long- and short-term issuer credit ratings (ICRs) on Hungaryʼs OTP Bank and its unit OTP Mortgage Bank to "BBB/A-2" from "BBB-/A-3", state news wire MTI reports.
At the same time, S&P affirmed its ʼBBB-/A-2ʼ long- and short-term resolution counterparty ratings (RCR) on both banks. The outlooks are stable.
Hungary has had a foreign currency long-term debt rating of "BBB" from Standard and Poorʼs since February 2019, with a stable outlook.