Adverse scenario projects 4-6% recession, budget gap over 5% of GDP
As coronavirus strains asset quality and profitability
Reduction of EU funds in next MFF would be credit negative
Impact could be severe
Hungary's situation is stable, though
Hungary in the most difficult position
No big surprise there
Unexpected praise
Rare opportunity presents itself.
The credit rating agency reacted to OTP's EUR 500 mn bond issue.
Further loan quality improvements are to be limited, says the ratings agency.
Erste, K&H ratings improved from Baa2 to Baa1.
Markets buckle.
Standard & Poor's rating review coming right up.
If only that still-elevated public debt was not there...
Rating remains Baa3, outlook stable.
Moody's ratings review coming up.
Outlook on Hungary is also stable.
First may come as soon as next week.