The financial evaluation agency Standard&Poor's reduced Romania's rating for both the foreign currency loans to BB plus, from BBB minus and for the short term credits from A-3 to B, with a negative perspective. However, the short term loans in national currency was maintained at A-3.
This move reflects the possible risks Romania's economy might face due to the high debt of the private sector and its dependency on foreign financing sources, expert Marko Mrsnik declared. He added that local authorities concentrated on the upcoming elections and failed to notice the new economic challenges.
