Hungarian Conservative

Fitch Ratings confirmed Eximbank’s investment-grade rating. The bank’s senior unsecured bonds also received a ‘BBB’ rating. The bank’s international rating matches Hungary’s sovereign rating due to EXIM’s statutory full faith and credit guarantee provided by the Hungarian state, as noted by the agency.

Azerbaijan has the potential to become one of the major natural gas suppliers to Hungary if the current determination to increase import volumes continues. However, the bilateral relations between the two countries extend beyond natural gas exports and are characterized by an enhanced strategic partnership. Given the commitment to construct an undersea high-voltage power line through the Black Sea, Azerbaijan could also become a key exporter of renewable energy to Hungary. On 1 May 2024 Azerbaijan, Kazakhstan, and Uzbekistan, ahead of the Tashkent International Investment Forum, reached an agreement to construct a similar high-voltage undersea power line through the Caspian Sea.