HUNGARY - Hungary Debt Chief Rules Out Junk Grade, Eyes Islamic and Ruble Bonds

Sept. 30 (Bloomberg) -- Hungary has a higher chance of the outlook on its credit profile being raised to stable from negative than having its rating cut to junk from the lowest investment grade, the Debt Management Agency said.

Teams from Standard and Poor’s and Moody’s Investors Service will visit the country in October to review its rating, Chief Executive Officer Gyula Pleschinger told a conference in Pecs, southern Hungary, today. S&P rates Hungary BBB- with a negative outlook. Moody’s and Fitch Ratings also rate it a step above junk with negative and stable outlooks, respectively.  (source)

HUNGARY - Hungary hungry for IF

Hungary's first Islamic bank is on its way, says Istvan Kaknics-Ujhelyi, director of Hungary's Al-Gharnati Foundation and advisor to the mayor of the northern city of Eger. Hosszu Ferenc Ali Hasszan, a Hungarian currently undergoing Islamic banking training in Malaysia, told The Islamic Globe that Hungary is working towards opening its first fully functional Shari'ah compliant bank, called Magyar Iszlam Bank in the coming years.(source)