Fitch improves Romania’s rating to stable

Newsroom 03/02/2010 | 10:31

Fitch rating agency improved Romania’s rating from negative to stable and confirmed the country’s rating for long – term debt in foreign and local currencies t BB plus and BBB minus. “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 normalisation of relations with the IMF have eased downward pressures on Romania’s sovereign ratings,” said David Heslam, Director in Fitch’s Sovereign Group. Romania’s economy experienced a sharp adjustment last year. Fitch estimates that real GDP fell by 6.9 percent in 2009, driven by falling private domestic demand. But encouragingly, this has lessened Romania’s demand for imports and supported a sharper-than-expected adjustment of the country’s current account deficit, according to Fitch Ratings.

BR Magazine | Latest Issue

Download PDF: Business Review Magazine June II 2024 Issue

The June II 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Mihaela Bitu, ING Bank Romania: Banking makes dreams come true”. To
Newsroom | 28/06/2024 | 12:25
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue