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Sept 16 Credit rating agency Standard and Poor's
raised Hungary's rating to 'BBB-/A-3' from 'BB+/B', citing
improving fiscal, external, and growth expectations while
maintaining its outlook on the country's debt as "stable".
"Hungary's fiscal, external, and GDP outcomes have improved
markedly since 2008, when Hungarian authorities applied to the
European Union and the IMF for financial assistance," the
ratings agency said on Friday. (bit.ly/2cuikSd)
In May, Fitch was the first of the three big rating agencies
to reward Prime Minister Viktor Orban's government for a
positive change in the country's risk profile.
Hungary's debt was downgraded to "junk" by major rating
agencies after Orban took power in 2010 and embarked on
unorthodox policies to steady the budget that included punitive
taxes on the financial sector.
But last year Orban made a truce with banks he had squeezed
for years and his right-wing government has kept the budget
deficit within the European Union's ceiling of 3 percent of
economic output since 2012.
Moody's will be next to review Hungary's rating in November.
(Reporting by Sandor Peto in Budapest and Radhika Rukmangadhan
in Bengaluru; Editing by Shounak Dasgupta)