Fitch ups Romania outlook to stable

Fitch Ratings said it revised Romania's outlook to stable from negative.

Fitch noted that it has simultaneously affirmed Romania's long-term foreign and local currency issuer default ratings at BB+ and BBB-, respectively.

Romania's country ceiling and short-term foreign currency issuer default rating are affirmed at BBB and B, respectively, the agency said.

"The improvement in external financial and economic conditions, sharper-than-expected narrowing of the 2009 current account deficit, passing of immediate election-related risk, adoption of the 2010 budget and expected normalization of relations with the IMF have eased downward pressures on Romania's sovereign ratings," said David Heslam, director in Fitch's sovereign group.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.