LONDON (Standard&Poor's) April 10, 2006--Standard&Poor's Ratings Services said today that the outcome of Hungary's general election, which did not have a clear winner after yesterday's first round and will be decided in a second round on April 23, would not have an immediate impact on the sovereign credit ratings on the Republic of Hungary (A-/Negative/A-2). Instead, Standard&Poor's emphasized, the policy response of any eventual government to the country's mounting fiscal and external challenges will be a crucial factor for the ratings. Standard&Poor's placed the ratings on Hungary on negative outlook in January 2006, reflecting the increasing downside risks to Hungary's public finances, as evidenced by high general government deficits and rapidly increasing
