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Hungary debt junked

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Hungary debt junked

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Hungary is having to pay more to borrow money after the ratings agency Standard and Poor’s downgraded the country’s credit score to junk.

Hungary’s rating went down from BB+ to BBB minus. The agency said it had doubts about the central bank there.

S&P said changes in the constitution had undermined the independence of the bank, and Hungary’s policy framework had become more unpredictable.