Hungary downgraded to junk by Moody's

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
According to Moody's statement, it has reduced Hungary's credit rating from Baa3 to Ba1 or to the highest junk. The downgrading took place after Hungary asked for help from International Monetary Fund to regain confidence as country has the highest level of sovereign debt among EU eastern members. Hungary has also received lower ratings from Fitch and Standard & Poor's.

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