S&P Upgrades Hungary’s Rating To “BB Plus”
- 23 Mar 2015 8:00 AM
Standard and Poor’s raised Hungary’s credit rating for long-term foreign currency and forint debt by one notch to “BB plus”. The international rating agency said that Hungary’s problems related to its external economic balance had significantly eased over the past few years.
The conversion of FX mortgages and the government strategy favouring lending in local currency have dampened Hungary’s vulnerability to potential external shocks, including the Fed’s tightening cycle, S&P said.
Governing Fidesz welcomed the upgrade, saying it was a sign that Hungary is stronger and is among the best performers ever more areas.
Since the current government took office in 2010, Hungary has been financially stable and has stuck to its budget goals, Fidesz said.
Source www.hungarymatters.hu
Follow that link to sign-up for MTI’s twice-daily newsletter.
LATEST NEWS IN business