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Moody’s Gives Negative Outlook for Carinthia
Politics ♦
Published: July 1, 2011; 15:45 ♦ (Vindobona)
Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.
Moody’s Gives Negative Outlook for Carinthia / Picture: © Vindobona.org
In its initial assessment of the province of Carinthia, Moody’s has given an Aa3 rating as well as a negative outlook. The agency on Friday announced that the federal state’s increasing budget deficit, the high and increasing debt and massive liabilities in the form of credit guarantees for the ailing Hypo Group had influenced the rating.
“Carinthia’s exposure to Hypo…
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