Hungary’s long-term foreign currency sovereign debt is presently rated Baa3 by Moody’s Investors Service with a negative outlook and this rating “is not under revision", a spokesperson for the ratings agency informed Reuters in a written response.
The spokesperson reminded that the negative outlook means chances of a downgrade are higher (vs. a no change scenario - editor’s note) in the next 12-18 months.
Moody's downgraded Hungary's foreign- and local-currency government bond ratings by two notches to Baa3 from Baa1 on 6 December 2010.
The above remark by Moody’s is entirely in harmony with another statement made by a lead analyst at the ratings agency on Wednesday morning, which indicated that Moody’s will not follow in the footsteps of Fitch that has earlier this week upgraded its outlook on Hungary’s rating to stable from negative.
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