Fitch downgrades Hungary credit rating to junk status

national-bank-of-hungary2

Fitch Ratings on Friday downgraded Hungary's long-term foreign issuer default rating to BB+, shunting it into the junk category. The rating agency expressed concern about the independence of the National Bank of Hungary as a reason for the action.

Fitch left the local currency issuer default rating at BBB–, one notch above junk, but warned the outlook on the long-term issuer default rating remained negative.

The agency has also downgraded Hungary's short-term issuer default rating to B from F3

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: