It was the first judgment of one of the three major international rating agencies, which mean that money investments in Hungarian bonds are no longer considered as speculation. Standard & Poor's followed the judgment of Fitch in September 2016, Moody's - in early November 2016. On November 24, 2011, Moody's had entered Hungarian exile to the “garbage” status. After five years of being exhilarated, Hungary returns to the international financial markets.
First rating agency "Fitch" in May 2016 and then "Standard & Poor's" in September rated the Hungary's economy as "BBB-" and "BBB-/A-3". At the beginning of November 2016, the American credit assessor "Moody's" raised the rating of the country by one note to "BAA3". This allowed Hungary after five years to finally leave the “garbage” category.
"Moody's" justified the revaluation with advances in debt reduction and expects growth of 2.5% for the coming years, just like "Standard & Poor's". The Hungarian National Bank (MNB) welcomed the decision. It stressed that thanks to the successful economic policy of the past years, all the macroeconomic indicators of the country could be improved.
Compiled by Bendeguz H. Kovács (17.02.2017)