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Austrian Banks Have $ 41.0bn Exposure in Hungary
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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…
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