LONDON (Standard&Poor's) Sept. 19, 2003--Standard&Poor's Ratings Services said today it assigned its 'A-' long-term senior unsecured debt rating to the Republic of Hungary's (foreign currency A-/Stable/A-2; local currency A/Stable/A-1) new €1 billion Eurobond issue due 2010. This is the second Eurobond issue launched by Hungary in 2003, following the issue of a 10-year €1 billion Eurobond in January. The rating on the Eurobonds is the same as the long-term foreign currency sovereign credit rating on Hungary. The ratings on Hungary reflect the government's continued commitment to structural reforms and market-oriented policies over the past few years. These have supported a remarkable pace of economic diversification and development. The ratings also reflect the government's moderate--albeit increasing--external indebtedness,
