Moody's upgrades City of Budapest's rating to Baa3 from Ba1, assigns stable outlook
London, 07 November 2016-- Moody's Public Sector Europe has today upgraded the issuer rating of the City of Budapest to Baa3 from Ba1 and changed the outlook to stable from positive. The main drivers of the rating action are the improvement of the Hungarian operating environment, as reflected in Moody's upgrade of the Hungarian government's bond rating to Baa3 from Ba1; and the strong correlation between sovereign and sub-sovereign credit risk, reflected in macroeconomic and...
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