S&P affirms Hungary’s negative rating

Ratings agency Standard and Poor’s on Friday affirmed its ‘BB/B’ long- and short-term foreign and local currency sovereign credit ratings on Hungary. “The outlook remains negative, reflecting at least a one-in-three chance of a downgrade if the policy framework lessens confidence and medium-term economic growth prospects, or significantly raises financing costs and leaves the country exposed to sharply diminished capital inflows,” S&P said.

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(Photo: Krisztián Hoffer/sxc.hu)