US-based credit ratings agency Moody’s has decided not to update Hungary’s long-term foreign and local-currency issuer default ratings, leaving the country’s credit rating at the current “Baa3” level, with a stable outlook.
Moody’s did not issue a statement as to why Hungary’s ratings were not changed.
The Hungarian business news portal Portfolio reported that the ratings agency’s decision came as a disappointment to Hungarian market analysts, given that the last time Moody’s changed the country’s outlook – to stable – was in 2016.
The other two main ratings agencies (Fitch and Standard and Poor’s) both upgraded Hungary from “BBB-” to “BBB” earlier this year.