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Fitch affirms Hungary ‘BBB-‘ rating; outlook stays at ‘stable’

Fitch affirms Hungary ‘BBB-‘ rating; outlook stays at ‘stable’

Budapest, May 12 (MTI) – Ratings agency Fitch affirmed Hungary’s sovereign rating at ‘BBB-‘, just over the investment grade threshold, in a scheduled review on Friday.

The outlook for the rating is ‘stable’.

“Hungary’s ‘BBB-‘ ratings balance its high level of GDP per capita, strong governance indicators and European Union membership against a track record of unorthodox economic policy and high government and external debts,” Fitch said.

However, it acknowledged that “a narrower government deficit and strong current account surpluses in recent years have allowed a decline in government and net external debt”.

Source: MTI

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