Hungary’s sovereign debt rating is expected to be lifted this year, the central bank’s executive director, Dániel Palotai, has told Dow Jones. Palotai said one of the three major credit-rating agencies, which he did not name, had recognised the Hungarian economy was now less vulnerable. It “would be difficult to find arguments against a positive rating move”, he said. Standard & Poor’s upgraded its outlook on Hungary to stable and confirmed its double-B rating on the country’s sovereign debt in March. The other two agencies also categorise Hungarian debt as “junk”. Palotai said Hungary’s economic indicators are far better than other countries in the same rating category.
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