Hungary — Sovereign Signal
BT-SFS 55.5/100 · BBB · 99 bps over Treasuries
Score and market snapshot
Hungary trades 33 bps tight of its fundamentals fit (fitted spread 132 bps).
| Field | Value |
|---|---|
| BT-SFS score | 55.5 / 100 |
| Rank | 19 of 51 |
| Composite rating | BBB |
| Agency ratings | Moody's Baa2 · S&P BBB- · Fitch BBB |
| Benchmark USD bond | REPHUN 6.25 32 |
| Spread over Treasuries | 99 bps |
| Yield to worst | 5.14% |
| Duration | 5.1y |
Pillar scores
| Pillar | Score (0-100) |
|---|---|
| Fiscal | 39.1 |
| External | 38.8 |
| Macro | 71.3 |
| Institutions | 79.2 |
The nine metrics behind the score
| Metric | Pillar | Raw value | Score | Source | Year |
|---|---|---|---|---|---|
| Current account / GDP | External | -0.4% | 66.7 | IMF | 2026 |
| International reserves, months of imports | External | 2.9 mo | 17.8 | World Bank | 2024 |
| General government debt / GDP | Fiscal | 77.9% | 29.2 | IMF | 2026 |
| Interest expense / revenue | Fiscal | 8.7% | 64.6 | IMF | 2026 |
| Primary balance / GDP | Fiscal | -1.8% | 20.8 | IMF | 2026 |
| WGI institutional composite | Institutions | 0.24 | 79.2 | WGI composite | 2024 |
| Real GDP growth | Macro | 1.7% | 14.6 | IMF | 2026 |
| GDP per capita, USD | Macro | $28,430 | 89.6 | IMF | 2026 |
| Inflation stress | Macro | 3.8% | 100.0 | IMF | 2026 |
Score history
Applying the current methodology to historical sources, Hungary moves from 65.9 in 2016 to 55.5 in 2026 (-10.4 points over ten years).
Default and restructuring registry
No bond default or restructuring events in the registry window.
Frequently asked questions
What is Hungary's sovereign credit score?
Hungary scores 55.5/100 on the BT Sovereign Fundamentals Score, ranking 19 of 51 sovereigns covered. The score is built from nine public IMF and World Bank metrics across fiscal, external, macro, and institutions pillars.
Which Hungary USD bond does BondTerminal track?
REPHUN 6.25 32 (ISIN XS2574267261), the near-5-year USD benchmark, currently 99 bps over Treasuries with a 5.14% yield to worst.
Is Hungary trading wide or tight of its fundamentals?
Hungary trades 33 bps tight of its fundamentals fit (fitted spread 132 bps).
Related
- All 51 sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — every metric, weight, and transformation, in public.
- Hungary vs Poland — fundamentals and spreads head to head.
- Hungary vs Romania — fundamentals and spreads head to head.
- Serbia — regional peer, BT-SFS 57.5 · 138 bps.
- Latvia — regional peer, BT-SFS 60.1 · 88 bps.
- Azerbaijan — regional peer, BT-SFS 65.0 · 79 bps.