HungaryTrends – The best business and finance news from Hungary

See below MTI’s main business and financial news from the previous week:

FITCH AFFIRMS HUNGARY ‘BBB-‘ RATING, ‘POSITIVE’ OUTLOOK

Fitch Ratings affirmed Hungary’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BBB-‘, just over the investment grade threshold, in a scheduled review. The outlook for the rating is ‘positive’.

AUDI HUNGARIA STARTS SERIAL PRODUCTION OF SECOND-GENERATION Q3

The local unit of German carmaker Audi started serial production of its second generation Audi Q3 crossover in Győr (NW Hungary). In addition to the Q3, the plant also produces the Audi A3 Sedan, Audi A3 Cabriolet, Audi TT Coupe and Audi TT Roadster.

MASTER GOOD PLANS HUF 15 BN CAPACITY EXPANSION

Hungarian poultry company Master Good announced plans for a 15 billion forint (EUR 46m) capacity expansion at its base in Kisvárda (NE Hungary). The investment will raise Master Good’s revenue by 50 percent within two years after its completion. The government is supporting the investment with a 3.4 billion forint grant, read more HERE.

LENDING CONTINUES TO EXPAND

Both corporate and retail lending of Hungarian banks continued to expand in the second quarter, a report by the National Bank of Hungary (NBH) showed. Net corporate transactions reached 239 billion forints during the quarter and net retail outlays came to 159 billion forints, read more HERE.