Friday, November 11, 2011
Hungary credit downgrade by S&P
From S&P Republic of Hungary 'BBB-/A-3' Ratings Placed On Watch Negative Owing To The Unpredictable Policy Framework Overview In our opinion, the predictability of Hungary's policy framework continues to erode, weighing on the economy's medium-term growth prospects. As a result, we are placing the 'BBB-/A-3' foreign and local currency sovereign credit ratings on Hungary on CreditWatch with negative implications. We are also placing the 'BBB-' long-term counterparty credit rating on the National Bank of Hungary on CreditWatch with negative implications.