Moody's upgrades Transelectrica

Moody's Investors Service said it upgraded Transelectrica SA’s long-term issuer rating to Baa3 from Ba1. The outlook was changed to stable from positive.

The upgrade and stable outlook follow the affirmation of Romania’s Baa3 rating and change in outlook to stable from negative, the agency said.

“The upgrade of the rating to Baa3 reflects the improved credit quality of the government of Romania (Baa3 stable) and Moody's assessment of the likelihood of the government providing support to Transelectrica,” the agency said in a press release.

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