Ratings
Rating Agency Long Term FC Outlook Last rating action publish date (DD/MM/YY)
Moody's Baa2 Negative 02/02/2026
Fitch BBB Negative 12/12/2025
Standard & Poor's BBB- Negative 25/06/2025

Outstanding Bonds
Bond Name
Volume (mm)
Currency
Issue Date
Maturity Date (DD/MM/YY) 
 Coupon
Listing
Rating S&P
Rating Fitch
Rating Moody's
Prospectus and Supplements
Final Terms
MVMKP2027/C 15 000 HUF 06.03.2026 06.03.2027 Fixed, annual, 6,25% Budapest Stock Exchange Not Rated Not Rated Not Rated Base Prospectus Final Terms
MVMKP2027/B 14 700 HUF 07.11.2025 07.05.2027 Fixed, annual, 6,5% Budapest Stock Exchange Not Rated Not Rated Not Rated Base Prospectus Final Terms
MVMKP2027/A 25 050 HUF 12.09.2025 12.09.2027 Fixed, annual, 6,5% Budapest Stock Exchange Not Rated Not Rated Not Rated Base Prospectus Final Terms
MVM EUR 2027 500 EUR 18.11.2021 18.11.2027 Fixed, annual, 0,875% Euronext Dublin BBB- BBB Not Rated Prospectus -
MVM USD 2028 Green 750 USD 09.06.2023 09.06.2028 Fixed, semi-annual, 7,5% Euronext Dublin BBB- BBB Not Rated Prospectus -
MVMKP2028/A 14 000 HUF 03.10.2025 03.10.2028 Fixed, annual, 6,75% Budapest Stock Exchange Not Rated Not Rated Not Rated Base Prospectus Final Terms
MVM USD 2031 750 USD 05.03.2024 13.03.2031 Fixed, semi-annual, 6,5% Euronext Dublin BBB- BBB Not Rated Prospectus -
MVM 2031/I 55 000 HUF 01.09.2021 03.09.2031 Fixed, annual, 3,25% Budapest Stock Exchange Not Rated BBB Not Rated Prospectus -

Retired Bonds
Bond Name
Volume (mm)
Currency
Issue Date
Maturity Date (DD/MM/YY)
 Coupon
Listing
Rating S&P
Rating Fitch
Rating Moody's
Prospectus and Supplements
Final Terms
MVMKP2026/A 15 000 HUF 06.06.2025 06.03.2026 Fixed, annual 6,25% Budapest Stock Exchange Not Rated Not Rated Not Rated Base Prospectus Final Terms

Latest rating reports
Date (DD/MM/YY) Title
02/02/2026

Moody’s Ratings reaffirmed MVM’s investment grade credit rating

12/12/2025

Fitch Ratings affirmed MVM’s investment grade credit rating at BBB while changing outlook
25/06/2025

S&P Global Ratings affirmed MVM’s investment grade credit rating at BBB- with unchanged negative outlook

04/02/2025

Moody’s assigns first time Baa2 rating to MVM, outlook negative
06/06/2024

Fitch Fitch Affirms MVM at 'BBB'; Outlook Negative
03/06/2024 S&P Rating Report on MVM 

03/04/2024

Fitch Rates MVM's Planned Bonds 'BBB'

30/06/2023 Fitch Rating Report on MVM Zrt.
16/06/2023 Fitch Affirms MVM at 'BBB'; Outlook Negative
30/05/2023 Fitch Rates MVM's Planned Bonds 'BBB'
04/05/2023 S&P Rating Report on MVM Zrt.
23/11/2022 Fitch Rating Report on MVM Zrt.
14/07/2022 S&P Rating Report on MVM Zrt.
15/11/2021 Fitch Rates MVM's EUR500m Eurobonds at 'BBB'
04/11/2021 Hungarian Integrated Utility MVM's Proposed Benchmark Unsecured Notes Rated 'BBB-'
04/11/2021 Fitch Rates MVM's Planned Eurobondsat 'BBB(EXP)'
27/08/2021 Fitch Rates Hungary's MVM's Domestic Senior Unsecured Bonds at 'BBB'
23/08/2021 Fitch rating report on MVM Zrt.
22/06/2021 Hungarian Public Integrated Utility MVM Group
Assigned 'BBB-' Rating; Outlook Stable (S&P)

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