BUDAPEST: Moody’s Investors Service will assess Hungary’s credit rating in a scheduled review on July 8. The first of three reviews scheduled for this year for Hungary at Moody’s came on March 4.
Then the agency left its “Ba1” rating, one notch below investment grade, unchanged. The next rating after Friday’s will be scheduled for November 4. Fitch ratings and Standard & Poor’s have two rating reviews each scheduled for Hungary this year.
On May 20 Fitch raised Hungary’s sovereign rating to “BBB-” from “BB+”, moving it back to investment grade. The outlook for the rating is “stable”. It is expected that Standard and Poor’s will leave Hungary’s rating at “BB+”, just under investment grade, with a “stable” outlook this year. Moody’s changed the outlook on Hungary’s banking system to positive from stable last week.
London-based analysts said earlier that Moody’s is likely to return Hungary into investment category this year, but there is no consensus on whether this would be done already next week or only in November.
