Moody's could cut seven Hungarian banks

Moody's Investors Service said it placed the standalone credit assessments and the debt and deposit ratings of seven Hungarian banks on review for downgrade.

The affected banks are: OTP Bank NyRt, OTP Mortgage Bank, K&H Bank, Budapest Bank, FHB Mortgage Bank, Erste Bank Hungary and MKB Bank.

Moody's said the review is prompted by its view that the ongoing adverse environment in which the banks operate has the potential to cause further erosion of the banks' standalone credit risk profiles.

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