S&P: Hungary outlook to stable

Standard & Poor's said it revised its outlook on the long-term sovereign credit ratings on Hungary to stable from negative.

At the same time, the agency affirmed the BB/B long- and short-term foreign and local currency sovereign credit ratings and the BB long-term issuer credit rating on the National Bank of Hungary.

S&P said the outlook revision reflects the rebalancing of Hungary's open economy, and what the agency views as steadying economic prospects.

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