Moody’s Investors Service upgraded Hungary’s sovereign rating to Baa2 from Baa3, with a stable outlook, at a scheduled review on Friday.
Hungary’s Moody’s rating is now level with the sovereign ratings assigned to it by Fitch and S+P Global Ratings.
“Hungary’s economic resilience is underpinned by the strong growth rebound throughout the first half of 2021, helped by effective fiscal and monetary policies, and further complemented by a strong medium-term outlook building on robust investment, with potential growth of around 3-4 percent over the next five years,” Moody’s said.
“Moody’s expectation that the projected strong growth rebound and medium-term outlook over the coming years will support fiscal consolidation and reduction in the government’s debt burden, which underlines Hungary’s resilient fiscal strength,” it added.
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