Romania’s Rating Outlook Raised to Stable at S&P
10.03.2010
Romania’s credit rating outlook was raised to stable at Standard & Poor’s after the International Monetary Fund resumed a bailout loan to the country
and the government passed an austerity budget.
The outlook on Romania’s BB+ credit rating was raised from negative, the company said in a statement late yesterday. The EU’s second poorest country,
which aims to sell euro-denominated bonds in the next week, is rated below Bulgaria, its poorer neighbor, and in line with Azerbaijan and Montenegro.
Romania (11) -- Analyses-- 2010
More about the rating
10.03.2010
“The outlook revision reflects our view of Romania’s sustained budgetary reform program and our belief that the government is likely to continue to comply
with the International Monetary Fund and European Union standby agreement,” S&P credit analyst Marko Mrsnik said in the statement.
Eastern European nations are recovering from the worst recession since World War II, prompting rating agencies to review their outlooks.
Lithuania, Latvia, Estonia have had their outlooks raised in the past month.
The leu was little changed against the euro at 10 a.m. in Bucharest at 4.0962. It has gained more than 3.2 percent against the euro this year and
is the second-best performer in eastern Europe behind the zloty.
Bulgarian