The periodic review has resulted in no rating action.

The periodic review has resulted in no rating action.

Solid reserve buffers, conservative debt management and low exposure to contingent liabilities support the ratings. Challenges relate to sustained operating pressures, rising debt levels, limited budgetary flexibility and weakening demographic trends.

The periodic review has resulted in no rating action.

Economic resilience, large sovereign wealth fund savings and strong macroeconomic governance are key credit strengths. High household debt, financial imbalances and the long-run economic transition represent challenges.

The periodic review has resulted in no rating action.

Rising general government debt, high fiscal deficits, and a modest growth outlook drive the downgrade. A wealthy economy, high net financial assets, and effective institutions anchor the ratings.

Szinorg's credit profile benefits from growing real estate portfolio diversification and adequate liquidity, but faces headwinds from its small scale, the cyclical construction business, and increasing leverage.

The EU’s India and Mercosur trade deals are politically relevant amid US trade tensions, but medium-term economic benefits look modest relative to potential gains from deeper intra-EU reforms that are more important for European credit profiles.

Scope Ratings requests comments on proposed revisions to its Sovereign Rating Methodology by 27 February 2026. The revised methodology is not expected to affect sovereign ratings assigned by Scope.