Hungary Credit Rating Cut to Junk at Moody’s
By Zoltan Simon - Nov 25, 2011 4:21 AM ET
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‘‘Hungary’s attempts last week to voice readiness to cooperate with IMF was a ‘show,’ which was meant to prevent the rating agency action, yet it didn’t help, given Hungary’s unwillingness to compromise,” Aurelija Augulyte, a Copenhagen- based economist at Nordea Bank AB (NDA), said in an e-mail today. “Moody’s interpreted the Hungarian attempt to seek assistance from the IMF as a desperate move.”
http://www.bloomberg.com/news/2011-11-24/hungary-s-credit-rating-cut-to-junk-by-moody-s-after-last-minute-imf-plea.html
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