A Valentine Day's present from S&P

HUNGARY - In Brief 15 Feb 2020 by Istvan Racz
Quite unexpectedly, S&P raised the outlook for its BBB long-term sovereign rating for Hungary from Stable to Positive yesterday. The agency based its decision primarily on the country's robust growth performance. This expressly hints at the possibility of an upgrade within the next 24 months if performance on growth, the fiscal deficit, the government debt ratio, external competitiveness and the BOP, and finally structural policies provide proper justification. S&P is not worried too much about inflation, as the agency expects the economy to cool this year and in 2021.Fitch Ratings, which also had a review date on February 14, has left its BBB/Stable unchanged. Moody's (Baa3/Stable) will review Hungary on March 27 next time.

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