Flash Comment
EM: Fitch downgrades four CEE countries
Mon, Nov 10 2008, 10:30 GMT
by Lars Christensen
Danske Bank A/S | View company's profile
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The bad news continues on the rating front for Central and Eastern Europe. This morning the rating agency Fitch downgraded four CEE countries: Romania, Bulgaria, Hungary and Kazakhstan. Bulgaria and Kazakhstan were each downgraded by one notch to BBB-. Hungary was lowered from BBB- to BBB. Romania was lowered by two notches to BB+. Hence, Fitch no longer rates Romania as 'investment'. Now both S&P and Fitch have downgraded Romania to 'junk' status.
Published on
Mon, Nov 10 2008, 10:32 GMT
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