S&P may cut Hungary

Standard & Poor's said it placed the BBB+/A-2 sovereign credit rating on the Republic of Hungary on CreditWatch with negative implications .

The watch reflects concerns over mounting financial-sector funding pressures and their potential to raise general government debt materially from its current level, according to the agency.

These institutions' weakened funding profile stems not only from the current turmoil in credit markets throughout the industrialized world but also from domestic issues, the agency noted.

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