S & P: Government fall lays new pressure on Romania’s ratings if it attracts economic downfall
ACT Media - 14 Octombrie 2009
The country rating will know new pressures if the present situation turns into a political gridlock in which the government cannot carry out the program of economic and fiscal consolidation, Frank Gill, an economic analyst from Standard & Poor's told NewsIn.
S&P and Fitch dropped last year Romania's ranking to junk level. Moody's is the only financial evaluation agency which still grants Romania rating with investment recommendation.At the end of October 2008 Standard & Poor's reduced Romania's ratings by one level for long and short time foreign exchange loans, from BB-/A-3 too BB+/B and for long term lei credits from BBB to BBB-. For transfer and convertibility the rating dropped from BBB+ to A-. The agency maintained the A-3 rating for short term lei loans. Romania's ratings have a negative perspective.
Sursa: http://www.actmedia.eu
Tags: economic
ratings
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