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May 31, 2018

Credit rating agency Moody’s to review Hungary’s sovereign debt rating

The review may surprise the finance industry by yet again boosting Hungary’s outlook. Moody’s has remained the only major rating agency with a stable outlook. Both S&P and Fitch have a positive outlook

Leading credit rating agency Moody’s is set to review Hungary’s sovereign debt rating on June 1st.

According to well-placed sources, the review may surprise the finance industry by yet again boosting Hungary’s outlook. Moody’s has remained the only major rating agency with a stable outlook. Both S&P and Fitch have a positive outlook.

The ministry of Finance predicted GDP growth of 4.1 percent year-on-year in 2017, which was in line with the actual 4 percent growth. Moody’s predicted a growth rate of 3.5 and 3.1 percent year-on-year in 2017 and 2018, respectively - far below actual growth.

Experts state that the 2018 GDP forecast is due for review and an upgrade to Hungary’s outlook is highly likely, most probably in its November 23rd report.