Moody’s revises Hungary to positive

Moody's Investors Service said it changed the outlook on the Ba1 government bond rating of Hungary to positive from stable and affirmed the Ba1 rating.

Moody's said it views that the downward trend in the government debt stock will likely be sustained in the coming years. This assessment is based on (a) the government's strong commitment to limit the budget deficit and maintain primary surpluses and its proven track record to deliver on this commitment; and (b) the declining share of foreign-currency liabilities in the government's debt stock, which renders it less susceptible to exchange rate shocks than in the past.

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