Godlike Productions - Conspiracy Forum
Users Online Now: 1,315 (Who's On?)Visitors Today: 303,748
Pageviews Today: 393,210Threads Today: 92Posts Today: 1,877
03:20 AM

Rate this Thread

Absolute BS Crap Reasonable Nice Amazing

Moody's downgrades Hungary to Ba1, negative outlook

The Grand Illusion
Offer Upgrade

User ID: 5704087
United States
11/25/2011 02:10 AM
Report Abusive Post
Report Copyright Violation
Moody's downgrades Hungary to Ba1, negative outlook
London, 24 November 2011 -- Moody's Investors Service has today downgraded Hungary's government bond rating by one notch to Ba1 from Baa3, and is maintaining a negative outlook.

The key drivers for the downgrade and negative outlook are as follows:

1.) The rising uncertainty surrounding the country's ability to meet its medium-term targets for fiscal consolidation and public sector debt reduction, particularly given Hungary's increasingly constrained medium-term growth prospects.

2.) The increased susceptibility to event risk stemming from the government's high debt burden, heavy reliance on external investors and large financing needs as the country enters a period of heightened external market volatility.

Moody's believes that the combined impact of these factors will adversely impact the government's financial strength and erode its shock-absorption capacity. The rating agency's decision to maintain a negative outlook on Hungary's ratings is driven by the uncertainty surrounding the country's ability to withstand potential event risks emanating from the European sovereign debt crisis.

Moody's has also downgraded by one notch to Ba1 from Baa3 the foreign-currency debt rating of the National Bank of Hungary (NBH) given that the Republic of Hungary is legally responsible for the payments on NBH's bonds.

[link to www.moodys.com]

“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.”

"The Law of Fives states simply that: All things happen in fives, or are divisible by or are multiples of five, or are somehow directly or indirectly appropriate to 5. The Law of Fives is never wrong."

"Some say the end is near. Some say we'll see armageddon soon. I certainly hope we will. I sure could use a vacation from this bull-shit three ring circus sideshow of freaks."

"It's the end of the world as we know it...and I feel fine."

"There is so much more and it beckons me to look though to these, infinite possibilities. As below so above and beyond I imagine, drawn outside the lines of reason. Push the envelope. Watch it bend."

"Solve et Coagula."