Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Moody's cuts Hungary rating to non-investment grade

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
 
alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-24-11 07:50 PM
Original message
Moody's cuts Hungary rating to non-investment grade
Source: Reuters

Ratings agency Moody's cut Hungary's government bond rating by one notch to Ba1, below investment-grade with a negative outlook hours after rival Standard & Poor's held fire on a flagged downgrade on news of planned talks on international aid.

Hungary returned to the International Monetary Fund and the European Union last week after the forint currency fell to record lows against the euro in the wake of a warning by S&P that Hungary could lose its investment-grade credit score.

The cut by Moody's could renew pressure on the forint -- which closed at 312.37 versus the euro on Thursday -- when domestic markets reopen, and may push government bond yields further up from 2-1/2-year highs above 8 percent.

The forint hit a record low at 317.90 versus the euro on Nov. 14, according to Reuters data.

Read more: http://www.reuters.com/article/2011/11/25/hungary-moodys-idUSL5E7MO4JA20111125
Refresh | +6 Recommendations Printer Friendly | Permalink | Reply | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC