Fiscal council head: return to investment grade expands Hungary’s room for manoeuvre

Budapest, November 7 (MTI) – Moody’s decision to return Hungary to investment grade will expand room for financial manoeuvre and bring new capital to Hungary, head of the Fiscal Council Árpád Kovács told daily Magyar Hírlap on Monday.

Moody’s bumped Hungary back into investment grade late on Friday, becoming the last of the big three ratings agencies to do so.

Kovács said the decision is also a recognition of Hungary’s economic policy.

Related article: MOODY’S PUTS HUNGARY BACK IN INVESTMENT GRADE

Financing will be cheaper, the country’s international reputation will improve and the credit agencies’ decisions will have a positive impact on Hungary’s image and help attract new investment, he said.

Markets and investors have considered Hungary for quite some time as recommended for investment and based on the objective figures, the country’s credit rating could have been upgraded three years ago, he said.

Source: MTI