Aug 25 (Reuters) - Credit ratings agency Standard & Poor’s on Friday revised Hungary’s sovereign credit outlook to “positive” from “stable”.
“The positive outlook reflects the increasing likelihood that further reductions in the banking sector’s nonperforming loans and a sustainable recovery of bank lending could improve Hungary’s monetary transmission,” S&P said in a statement.
S&P affirmed its BBB-/A-3 ratings on Hungary. (bit.ly/2w5fVoa)
The rating agency also revised its outlook on the National Bank of Hungary to “positive” from “stable”. (Reporting by Pallavi Dewan in Bengaluru; Editing by Anil D’Silva)