Central Bank Official: Hungary May Get Better Ratings This Year
- 30 May 2014 9:00 AM
It is expected that Hungary’s sovereign debt rating will be lifted this year, the central bank’s executive director said at a conference on Thursday. Dániel Palotai told Dow Jones that one of the three major credit rating agencies, which he did not name, had recognised the Hungarian economy was less vulnerable than before.
Palotai said the agency was expected to improve the rating this year, adding “it would be difficult to find arguments against a positive rating move.”
Standard & Poor’s upgraded its outlook on Hungary to stable and confirmed its double-B rating on the country’s sovereign debt in March.
The other two agencies also categorise Hungarian debt as “junk”. Palotai said Hungary’s economic indicators are far better compared with its other countries in the same rating category.
Source www.hungarymatters.hu
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