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Austrian Banks Have $ 41.0bn Exposure in Hungary

Published: January 7, 2012; 11:25 · (Vindobona)

After another downgrade, a national bankruptcy of Hungary is not excluded anymore. Consequences for Austrian banks would not be foreseeable.

Austrian Banks Have $ 41.0bn Exposure in Hungary / Picture: © Vindobona.org

The U.S. rating agency Fitch has downgraded Hungary´s rating from “BBB-“ to “BB+”, which has only junk status. The agency justified its decision with the “further aggravation of the financial status and the growth forecasts”. Fitch published the third downgrade after Moody´s and S&P announced their downgrades at the end of December.

Austrian banks, above all…

This article includes a total of 453 words.

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