Hungary Debt Downgraded at Fitch; Rating Nears ‘Abyss’
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Hungary had its credit rating cut to the lowest investment grade by Fitch Ratings, which joined Moody’s Investors Service and Standard & Poor’s in questioning the sustainability of the new Cabinet’s fiscal policy.
Fitch downgraded Hungary one step to BBB-, the company said in a statement from London. The outlook for all three ratings companies is negative, which means they are more likely to reduce the rating to junk than to raise it or keep it unchanged.