Hungary has raised $174.21 million in a three-month, 6.71 percent, Treasury bills sale, The Wall Street Journal reports. The sale was held on Tuesday, its weekly auction day, and targeted local investors for short-term financing.
The high-yield T-bills aim to sooth investors after Fitch Ratings downgraded the country’s rating to negative and Standard & Poor’s Corp. put the rating on watch negative. Hungary’s key policy rate is currently pegged at 6 percent.
Click here for the story from The Wall Street Journal.