August 25, 2017 / 8:35 PM / 4 months ago

S&P revises Hungary's credit outlook to positive

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)

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