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Town in Myjava Surprised That Moody's Has Lowered Its Rating
Tuesday 22 December 2009 Zoom in | Print page
Myjava, December 22 (TASR) - The authorities in the town of Myjava (Trencin region) are surprised that Moody's Investors Services agency has lowered the town's rating and changed its outlook status from stable to negative, said Myjava council spokesman Marek Hrin on Tuesday.
"We're surprised, as last week we received a message from Moody's that the rating was Aa2 with a stable outlook. This information was also presented to the town councillors at their last meeting on December 16. Now it's different (Aa3), and we learned about it from the media," said Hrin.
Even though the financial situation of town councils isn't good, Hrin said that the town prepared a good town budget for 2010 and programme budget for 2010-2012, both of which ensue from realistic estimates.
The town's loans were restructured and the town wants to continue projects that are important for it and supported by EU funds, said Hrin, adding that there are understandable problems with lower incomes and that the town will weigh up every euro. He also said that the municipality realises that 2010 will be more difficult than 2009.
Moody's lowered ratings for Myjava and Presov and announced worse outlooks for the city of Kosice and Kosice region. Myjava, with both a lower rating and a worse outlook, faces further possible rating reductions.
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