The rating action reflects Scope’s view of Magyar Telekom’s strong and stable market position in the Hungarian mobile and fixed internet markets, and its robust financial risk profile.

Following the recent affirmation of the BBB+ issuer rating and revision of the Outlook to Stable, Scope has updated its analytical report on Magyar Telekom Nyrt.

The rating action reflects an improvement in the standalone credit assessment of the company, while being constrained by the sovereign-associated risks.

The improved Outlook is based on the company’s improving profitability aided by an upcoming reduction of telecoms taxation in Hungary.

The affirmation reflects Scope’s view of the Hungarian telecom incumbent’s strong and stable positions in the domestic mobile and broadband markets together with its moderate leverage.

The affirmation reflects Scope’s view of the Hungarian telecom incumbent’s strong and stable positions in the domestic mobile and broadband markets.

The rating reflects Scope's view of the Hungarian telecom incumbent's strong positions in the domestic mobile and broadband markets.