Hungary, which had turned to the IMF in May for assistance, has lost its investment-rate grading at Moody's Investors Service, which cited risks to the country's budget deficit and public debt targets.The country's foreign and local currency bond ratings were cut one step to Balfrom Baa3, Moody's announced. The company had awarded Hungary its investment grade in 1996 but has now assigned a negative outlook. The country is rated the lowest investment grade at Standard & Poor's and Fitch Ratings.
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