This was Hungary’s last review date this year in the annual schedule set by the credit rating agencies, so no changes to Hungarian sovereign ratings and rating outlooks are expected this year.
In accordance with the regulations of the European Union, Moody’s prepared this year’s schedule for the review of European sovereign debt ratings in advance, and set the date for the second potential review of the Hungarian sovereign rating this year for Friday.
On Friday night in London, the company announced, however, that the state did not update the Hungarian debtor assessment. Hungary was included in this year’s review schedule of Moody’s for the first time on March 25, but the company did not put a substantive examination of the Hungarian rating on its agenda even then.
The review is not mandatory at the scheduled times. The EU only requires the credit rating agencies to be notified in advance of when the planned reviews of the classifications of European Union public debtors would be carried out in a given year, but it is not a requirement that the credit rating agencies must also carry out these inspections on the designated days.
The three market-leading international credit rating agencies – in addition to Moody’s, Fitch Ratings and S&P Global Ratings, the global rating part of the Standard & Poor’s financial service group – have again this year designated a total of six dates, two each, for the examination of Hungarian government debt ratings, the in accordance with established practice, similar to grade reviews of other European Union sovereign debtors, in all cases on Fridays.