S&P downgrades maverick Hungary on weak growth

BUDAPEST (Reuters) – Standard & Poor’s on Friday cut Hungary’s long-term credit rating, already in junk territory, by one notch to BB, saying its government’s unpredictable policies could hurt medium-term growth. The move came almost a year after S&P slashed Hungary to below investment grade on similar grounds and could hit the forint currency and Hungarian bonds when markets reopen on Monday, analysts said. …

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