Hungary is 'junk', says Moody's

Moody's slashed Hungary's government bond rating to "junk" late on Thursday, citing high debt levels, weak growth prospects and uncertainty about its ability to meet fiscal goals, in what the government called part of "financial attacks" against the country.

Moody's cut Hungary's government bond rating by one notch to Ba1, below investment-grade, with a negative outlook hours after rival Standard & Poor's held fire on a flagged downgrade on news of Budapest's planned talks on getting international aid.