Moody's rates National Bank of Hungary Baa1

Moody's Investors Service said it corrected the foreign-currency bond rating of the National Bank of Hungary to Baa1 from A1, aligning the rating with the government of Hungary's foreign-currency bond rating.

The outlook is negative.

The country is legally responsible for the payments on the bonds that are currently outstanding, Moody's said. Due to an administrative error, the ratings of the National Bank of Hungary were inadvertently omitted from several rating actions relating to the Republic of Hungary, the agency said.

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