Fitch affirms Hungary’s junk rating, raises outlook to positive

Budapest, May 23 (MTI) – Fitch Ratings affirmed Hungary’s “BB plus” sovereign credit rating, one notch under investment grade, in a scheduled review Friday evening.

At the same time Fitch raised Hungary’s outlook to “positive” from “stable”

While Hungarian authorities are eager to see the country upgraded, the move will not surprise the local market when it reopens next Tuesday after the Pentecost holiday, because analysts at Fitch have said an improvement was unlikely in an interview with Reuters late April.

After the publication of Fitch Rating’s review, the Hungarian forint strengthened to 306.87 to the euro from 307.68 previously on the interbank forex market.

Source: http://mtva.hu/hu/hungary-matters