Moody's downgrades Hungary outlook on institutional 'weaknesses'

washington — The U.S. ratings agency Moody's downgraded its outlook for Hungary's government debt Friday citing "institutional and governance weaknesses" and concerns its antagonistic relationship with the EU could have financial consequences.


Hungary is a recipient of substantial amounts of funding from the European Union, which are conditional on meeting certain criteria, including adherence to the rule of law.


The country's nationalist prime minister, Viktor Orban, has clashed with...