Moody's Places Hungary's Baa1 Sovereign Rating Under Review for Downgrade

Moody’s Investors Service said it placed Hungary’s credit rating on review for a possible downgrade after the government was unable to reach agreement with international donors on fiscal targets.

Moody’s placed Hungary’s Baa1 local and foreign currency government bond ratings on review for possible downgrade, it said in a statement today.

“Moody’s decision to initiate this review was prompted by the increased uncertainty regarding Hungary’s fiscal outlook and economic prospects,” it said in the statement. “This uncertainty is the result of the recent breakdown of Hungary’s talks with the IMF and EU.”

To contact the reporter on this story: Tasneem Brogger in London at tbrogger@bloomberg.net

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