Credit rating agency updates estimates
Upgrades some ratings and outlook for MKB Bank and Budapest Bank
But pandemic does pose risks
Upgrades should not be expected any time soon
They trust there will be a deal, though
And affirms the rating of the Hungarian capital
Move follows affirmation of sovereign rating
IIB gets A- rating
Fitch, Standard & Poor's both affirm ratings
Adverse scenario projects 4-6% recession, budget gap over 5% of GDP
Unexpected move by the credit rating agency
Reduction of EU funds in next MFF would be credit negative
JCRA has been holding a positive outlook on Hungary since 2017
With Stable Outlook
No big surprise there
Unexpected praise
Paving the way for corporate bond issue under central bank programme
HUF 29 billion corporate bond issuance may be near.
Eurozone membership in CEE countries would be positive for their creditworthiness, though.
As expected.