S&P Upgrades Romania Outlook To Stable

Standard&Poor's Ratings Services upgraded its outlook on Romania to stable from negative, citing budgetary consolidation and expectations that the country would continue to comply with an International Monetary Fund/EU agreement.

 

"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 IMF/EU stand-by agreement, thereby easing external financial pressures," said Standard & Poor's credit analyst Marko Mrsnik.

 

S&P affirmed its 'BB+/B' long- and short-term foreign currency sovereign credit ratings and its 'BBB-/A-3' long- and short-term local currency sovereign credit ratings on Romania.

 

Early February, Fitch Ratings also upgraded its outlook on Romania to stable, while affirming the country's ratings.