Austria’s Outlook Cut to Negative at Moody’s on Budget Deficit

Austria’s sovereign credit outlook was cut to negative by Moody’s Investors Service in the latest setback for the government’s efforts to mend its finances.

The outlook on Austria’s Aa1 rating, the second-highest on the Moody’s scale, was lowered from stable, according to a statement late Friday. It’s the first adjustment since 2016 by Moody’s.