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S&P upgrades Magyar Export-Import Bank

S&P Global Ratings on Sept. 22 upgraded 's long-and short-term issuer credit ratings to BBB-/A-3 from BB+/B, with a stableoutlook.

S&P equalized the long-term rating on the bank with thesovereign credit rating on Hungary because the bank is agovernment-related entity. Meanwhile, the agency believes that the governmentwould provide the bank with timely and sufficient support, if needed.

The stable outlook on the bank reflects that of thesovereign and S&P's expectation that the bank's critical role for theHungarian government's economic policies and growth will remain unchanged inthe next 12 months.

S&P Global Ratings and S&P Global MarketIntelligence are owned by S&P Global Inc.