Moody’s issues warnings about Berlin expropriations
The US rating agency Moody’s has issued a warning about the consequences that the expropriation of large housing companies could have for Berlin’s creditworthiness. The agency commented that Berlin’s credit profile would be negatively impacted in the long term if the planned referendum on the nationalization of private real estate companies passes. The expropriation of real estate companies would reduce the capital’s ability to attract investors and also push its debt to a record high. The Senate estimates that up to €36bn will be needed to pay compensations to the affected housing companies; the German federal state is currently €58bn in debt.
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