Varga not expecting major change to credit rating
Hungary is not expecting any major changes during credit rating agency Fitch Ratingsʼ review later today, National Economy Minister Mihály Varga told public television today.
"The big ratings agencies have improved their outlook to positive over the past months. I think given that Fitch already has a positive rating, we cannot expect any major changes at this time," Varga said.
Varga said it would of course be favorable if there was a change in the rating, but "based on his own survey, he does not expect this to happen".
Currently all three key credit ratings agencies put Hungary one notch below "investment grade", but the outlooks on the ratings by Moodyʼs and Fitch are "positive".
Fitch Ratings declined to comment to Reuters when the news agency asked about Vargaʼs comments. Fitch Ratings responded that they would "publish a press release on Hungary today at 9 pm London time".
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.