Bloomberg News

Hungary Rating Kept on Watch Negative by S&P to Assess IMF Talks

November 24, 2011

Nov. 24 (Bloomberg) -- Standard & Poor’s said it’s keeping Hungary’s sovereign debt rating on “CreditWatch with negative implications” for longer than the one-month period it originally planned after the country approached the International Monetary Fund for assistance.

“In order to assess the progress of negotiations and the likelihood that the agreement may materially affect policy predictability, we are maintaining our CreditWatch status,” S&P said in a statement today. “We expect to resolve the CreditWatch by February 2012.”

S&P rates Hungary BBB-, its lowest investment grade.

To contact the reporter on this story: Agnes Lovasz in London at alovasz@bloomberg.net

To contact the editor responsible for this story: Andrew Langley at alangley1@bloomberg.net


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