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Standard & Poor's: Romania's rating perspective might improve after 2010 budget is adopted

de Dragos Comache, transl/adapt. C.B.     HotNews.ro
Miercuri, 13 ianuarie 2010, 17:53 English | Business

Standard & Poor's might improve Romania's rating after the 2010 budget is voted, which will unblock the loan from the IMF and other international institutions, according to Bloomberg.

"The ratings on Romania could indeed stabilize at the current level,” S&P credit analyst Marko Mrsnik said in a phone interview today. The outlook will improve if “public finances are put on a consolidation path, and if the private sector’s access to external financing improves and pressures on the banking sector subside", Standard & Poor's analyst Marko Mrsnik indicated.

Standard & Poor's and Fitch downgraded Romania's standard in autumn 2008 to the spculative level (junk). Moody's the only one of the three financial evaluation agencies which rates Romania investment grade, namely at "Baa3".

Thus, at the end of October 2008, Standard & Poor's dropped Romania's rating one level for its long and short-term foreign currency loans, from "BBB-/A-3" to "BB+/B", and for the long-term credits in lei, from "BBB" to "BBB-".

The agency maintained the rating for short-term lei loans to "A-3". Romania's ratings have negative perspective.

In November 2008, Fitch downgraded Romania's rating for long-term foreign currency loans from "BBB" to "BB+" and for long-term lei loans from "BBB+" to "BB-".


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