Hungary Gets Second Junk Debt Rating as S&P Follows Moody’s

It looks like Hungary is going down the drain faster than the European Union. Read the whole article: Hungary Gets Second Junk Debt Rating as S&P Follows Moody’s

Dec. 21 (Bloomberg) — Hungary lost its investment-grade rating at Standard & Poor’s, the second such downgrade in a month, increasing pressure on Premier Viktor Orban to obtain an International Monetary Fund backstop.
This was Nov. 25th:
Nov. 25 (Bloomberg) — Hungary lost its investment-grade rating at Moody’s Investors Service after 15 years as the Cabinet seeks International Monetary Fund help to boost confidence in the European Union’s most-indebted eastern member. Elliott Gotkine reports on Bloomberg Television’s “Countdown” with Owen Thomas. (Source: Bloomberg)

Hungary Cut to Junk at Moody’s After IMF Plea