Hungary to hold auctions next week as planned, in spite of downgrade

Deals

Hungary will hold auctions of government securities as planned next week, in spite of a downgrade of the country’s sovereign rating under "investor grade" by Moody’s late Thursday, Government Debt Management Agency (AKK) deputy-CEO Laszlo Borbely told Econews on Friday.

AKK announced its auction schedule for the coming week on Wednesday and Thursday.

Mr Borbely said Hungary has available to it the necessary financing.

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