U.S. Markets closed

Moody's raises Hungary's rating by a notch to 'Baa2', revises outlook to stable

·1 min read

Sept 24 (Reuters) - Ratings agency Moody's on Friday raised Hungary's sovereign credit rating to 'Baa2' from 'Baa3', saying its economic resilience is underpinned by the strong growth rebound throughout the first half of 2021.

"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", the agency added in its statement https://www.moodys.com/research/Moodys-upgrades-Hungarys-ratings-to-Baa2-changes-outlook-to-stable--PR_454087.

Moody's changed Hungary's outlook to stable.

(Reporting by RichardRohan Francis; Editing by Vinay Dwivedi)