Moody’s May Downgrade Hungary Debt as IMF Talks Fail
This article is for subscribers only.
Moody’s Investors Service said it will review Hungary’s credit rating for possible downgrade, the first rating company to react to the collapse of negotiations with the International Monetary Fund and European Union.
The IMF and EU on July 17 suspended talks with the government without endorsing Prime Minister Viktor Orban’s plans to control the budget deficit. The creditors provided Hungary with a 20 billion-euro ($25.9 billion) rescue package in 2008, which has served to reassure investors.