S&P affirmed Hungary's BBB-/Stable sovereign debt rating

HUNGARY - In Brief 28 Apr 2024 by Istvan Racz
This happened on Friday, April 26, the first preset review date for any of the top three rating agencies, as regards their sovereign ratings for Hungary. Hungary has a split rating (see chart), S&P keeping the government's debt rating in the lowest investment-grade category since January 2023, whereas Moody's and Fitch maintain a one-notch-higher rating for the Hungarian sovereign. At present, wee see little risk that Hungary could lose its investment grade rating at any of the top-three agencies. But there is significant risk that Fitch may downgrade Hungary to BBB- later this year, based on their negative outlook and the most recent, and also somewhat earlier critical remarks on the country. We think our expectations are largely consistent with the mainstream analyst view on this subject.  

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