S&P Global Ratings and Fitch Ratings both affirmed Hungary’s ‘BBB’ sovereign ratings at scheduled reviews on Friday, but S+P revised the outlook on its rating for the country to ‘positive’ from ‘stable’.
“We could raise our ratings on Hungary within the next 24 months if the country’s economic performance continues to be stronger and more balanced than peers’, further lifting the country’s income levels. We could also raise the ratings if budget deficits narrow substantially during the forecast period,” S&P said.
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