Hungary May Be Forced Into Policy Turn to Avert Rating Slide
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Hungary may have to change policies, such as steps that caused banking losses, to access international aid and avoid more debt downgrades, BNP Paribas SA, Brown Brothers Harriman & Co. and Takarekbank Zrt. said.
Prime Minister Viktor Orban shunned seeking International Monetary Fund aid since coming to power last year until the forint fell to a record against the euro this month. He may have to rethink some policies criticized by Moody’s Investors Service, which cut the country’s debt rating to junk last week, and Standard & Poor’s and Fitch Ratings, which rate Hungary at the lowest investment grade with negative outlooks.