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Reply #8: Hungary's debt downgraded by Moody's to junk status [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-25-11 07:31 AM
Response to Reply #7
8. Hungary's debt downgraded by Moody's to junk status

Moody's has cut its rating of Hungarian government debt to junk status.

The ratings agency blamed Hungary's high levels of debt and weak prospects for growth, as well as uncertainty about whether the government can achieve its goals for the economy.

The government said the move by Moody's was part of a series of financial attacks against the country.

Earlier, Standard & Poor's decided not to downgrade Hungary until talks with the EU and IMF had been completed.

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