S&P downgrades Hungary to BB from BB+

FXstreet.com (Córdoba) - Ratings agency Standard & Poor's (S&P) downgraded Hungary by one notch on Friday to BB from BB+, while keeping stable outlook for the country's debt.

"The downgrade reflects our opinion that the government's unorthodox policies, including exceptional measures applied to the financial sector, could erode the country's medium-term growth potential. This could eventually undermine the government's efforts to sustainably reduce general government debt", said S&P in a statement.