Standard & Poor's credit rating for Hungary stands at BBB with stable outlook. Moody's credit rating for Hungary was last set at Baa3 with stable outlook. Fitch's credit rating for Hungary was last reported at BBB with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Hungary thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Hungary as reported by major credit rating agencies.


AgencyRatingOutlookDate
S&PBBB Stable Apr 28 2020
S&PBBB Positive Feb 14 2020
FitchBBB Stable Feb 22 2019
S&PBBB Stable Feb 15 2019
FitchBBB- Positive Nov 10 2017
S&PBBB- Positive Aug 25 2017
Moody'sBaa3 Stable Nov 04 2016
S&PBBB- Stable Sep 16 2016
FitchBBB- Stable May 20 2016
Moody'sBa1 Positive Nov 06 2015
FitchBB+ Positive May 22 2015
FitchBB+ Positive May 22 2015
S&PBB+ Stable Mar 20 2015
Moody'sBa1 Stable Nov 07 2014
S&PBB Stable Mar 28 2014
S&PBB Negative Mar 21 2013
FitchBB+ Stable Dec 20 2012
S&PBB Stable Nov 23 2012
FitchBB+ Negative Jan 06 2012
S&PBB+ Negative Dec 21 2011
Moody'sBa1 Negative Nov 24 2011
S&PBBB- Negative Watch Nov 11 2011
FitchBBB- Negative Nov 11 2011
FitchBBB- Stable Jun 06 2011
FitchBBB- Negative Dec 23 2010
Moody'sBaa3 Negative Dec 06 2010
Moody'sBaa1 Negative Watch Jul 23 2010
S&PBBB- Negative Jul 23 2010
S&PBBB- Stable Oct 02 2009
Moody'sBaa1 Negative Mar 31 2009
S&PBBB- Negative Mar 30 2009
FitchBBB Negative Mar 02 2009
S&PBBB Negative Nov 17 2008
FitchBBB Stable Nov 09 2008
Moody'sA3 Negative Nov 07 2008
FitchBBB+ Negative Oct 15 2008
S&PBBB+ Negative Watch Oct 15 2008
S&PBBB+ Negative Mar 14 2008
FitchBBB+ Stable Nov 05 2007
Moody'sA2 Stable Dec 22 2006
S&PBBB+ Stable Dec 21 2006
Moody'sA1 Negative Watch Sep 22 2006
FitchBBB+ Negative Sep 20 2006
S&PBBB+ Negative Jun 15 2006
Moody'sA1 Negative Feb 22 2006
S&PA- Negative Jan 26 2006
FitchBBB+ Stable Dec 06 2005
FitchA- Negative Jul 15 2003
Moody'sA1 Stable Nov 29 2001
S&PA- Stable Dec 19 2000
FitchA- Stable Nov 30 2000
Moody'sA3 Stable Nov 14 2000
FitchBBB+ Positive Sep 21 2000
Moody'sBaa1 Positive Watch Sep 13 2000
Moody'sBaa1 Positive Apr 10 2000
S&PBBB+ Positive Feb 02 2000
FitchBBB+ N/A Oct 29 1999
Moody'sBaa1 Stable Jun 25 1999
S&PBBB Positive Dec 11 1998
Moody'sBaa2 Positive May 08 1998
Moody'sBaa3 Positive Watch Mar 20 1998
S&PBBB- Positive Jan 22 1998
Moody'sBaa3 Positive Sep 11 1997
FitchBBB N/A Jun 24 1997
FitchBBB- Positive Watch May 23 1997
Moody'sBaa3 Stable Dec 19 1996
S&PBBB- Stable Oct 28 1996
Moody'sBa1 Positive Watch Oct 14 1996
FitchBBB- N/A Apr 25 1996
S&PBB+ Stable Feb 01 1996
S&PBB+ Negative Apr 11 1995
S&PBB+ Stable Apr 15 1994
S&PBB+ Positive Apr 20 1992
Moody'sBa1 Stable Jul 18 1990
Moody'sBaa2 Stable Jul 18 1989

 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
CCC+ Caa1 CCC 21
CCC+ Ca CCC CCC 12
Ba3 BB- 16
BBB+ BB 55
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 48
BB Ba2 50
B+ B2 B+ 35
BB- Ba3 BB- 40
B- Caa1 22
B B3 B 28
AA Aa3 AA- AA (high) 86
CCC+ Caa1 14
B+ B2 B 31
A+ A2 N/A 78
B+ B2 B+ 36
B B3 27
BBB+ A2 70
BB- Ba2 BB- BB (low) 42
BBB Baa2 BBB 60
B 25
N/A B2 30
B- B2 B 28
AAA Aaa AA+ AAA 100
B B- 27
Aa3 85
A+ A1 A N/A 78
A+ A1 A+ A (high) 80
BBB- Baa2 BBB- BBB 57
CCC+ Caa1 20
B B2 B 31
BBB- Ba2 BBB- 51
Caa2 15
BBB- Ba2 BBB- BBB (low) 50
AA- Aa3 AA- 83
AAA Aaa AAA AAA 100
BB- Ba3 BB- 40
B- Caa3 B- 18
B B2 B+ 30
B- B3 B- 25
AA- A1 AA- AA (low) 83
B B2 B 30
AA Aaa AAA AAA 98
BB- Ba3 40
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 CCC 26
BB Ba2 BB 45
AAA Aaa AAA AAA 100
B- B3 B 23
BB- B1 BB BB (low) 37
SD
BB- Ba1 BB- 45
BB- B1 35
AA+ Aa3 AA- 90
BBB Baa3 BBB 58
A A2 A 75
BBB- Baa3 BBB- BBB 56
BBB Baa2 BBB 60
B- Caa1 B- 23
AA- A2 A+ A (high) 78
N/A Aa2 90
AA- A1 A+ 81
BBB Baa3 BBB- BBB (high) 61
Ba3 B+ 37
B+ B2 B+ 33
A+ A1 A A (high) 77
B+ B1 BB- 36
BBB- Baa3 BBB 56
B+ B2 B+ 33
AA- A1 AA 88
NR B2 30
Caa2 CCC 25
A+ A3 A- A (low) 73
D C RD 11
B 30
AAA 100
A+ A3 A A 75
AAA Aaa AAA AAA 100
Aa3 AA 87
BB- BB+ 45
A- A3 A- 70
B3 B 30
Caa1 25
A- A2 A+ A (high) 75
Baa1 65
BBB Baa1 BBB- BBB 60
B3 25
B B3 B 28
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
CCC+ Caa2 CCC 14
Ba2 BB 45
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B3 B- 25
B3
B- B2 B 30
AAA Aaa AAA AAA 99
BB- Ba3 BB- 41
B- B3 B- 25
BBB+ Baa1 BBB 63
B- B2 30
BB Ba1 BB+ 46
BBB+ A3 BBB+ N/A 65
BBB+ Baa2 BBB 61
A- A2 A- A 71
BBB Baa3 BBB BBB (high) 71
D 0
AA- Aa3 AA- 85
CCC+ Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 33
BB+ 55
A- A1 A 75
B+ Ba3 37
BB+ Ba3 BB+ 46
B+ 45
AAA Aaa AAA AAA 98
A+ A2 A A (high) 76
AA- Baa1 A A (high) 75
B3 25
BB- Ba1 BB 46
AA Aa2 AA- 86
A Baa1 A- A 71
B- B2 B- 28
B3 25
CCC Caa3 CC 16
B3 30
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3 25
B2 35
BBB+ Baa1 BBB+ 65
B B3 30
BBB- Ba1 52
N/A B2 B 31
B+ B2 BB- BB (high) 36
B B2 B+ 31
B B3 B 26
AA Aa2 AA 90
AA Aa2 AA- AAA 91
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 38
SD WR RD 11
BB Ba3 BB 43
CCC Ca CC 30


Credit Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com