Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Romania's credit rating outlook may be upgraded after budget approval - Standard&Poor's analysts

Romania's credit rating outlook, currently negative, may be upgraded given that Parliament is getting ready to pass the 2010 budget later this week - a fact that could unblock new tranches from the loan agreement with International Monetary fund, Bloomberg quotes the analysts of Standard&Poor's rating agency as saying.

Romania's ratings may be stabilised at the current level, Standard&Poor's analyst Marko Mrsnik said. The credit rating outlook will be upgraded if the public finances are placed on a strengthening trend, if the access of the private sector to outer funding is improved and the pressure in the banking sector is curbed, Mrsnik explained.

At present, Standard&Poor's gives Romania the ‘BB plus' rating, the highest rating in the junk category, with a negative outlook. Also in the junk category is the credit rating given Romania by Fitch Ratings agency. The only big rating agency that continues to give Romania an investment grade rating is Moody's Investors Service, that gives the ‘Baa3'.

Romania has so far received a total 6.57 billion euros from the IMF. The disbursement of the third 1.5 million euros tranche depends on the results of the talks in Bucharest.

The IMF is ready to send an assessment mission to Bucharest as soon as the budget law is approved, if it meets the understandings reached by the IMF experts and the Romanian authorities in December, chief of the IMF Office for Romania and Bulgaria Tony Lybek told Agerpres on Monday.

The third tranche amounts to 1.5 billion euros and the fourth tranche to 830 million euros, i.e. a total 2.3 billion euros, half of which will go to the National Bank of Romania and half to the Public Finance Ministry, to back the budget deficit.

The 12.95 billion euro IMF loan is being given Romania in eight tranches over two years; Bucharest has so far received two tranches totalling 6.9 billion euros.

Sursa: http://www.agerpres.ro

Tags: rating poors romania billion standard euros budget credit romanias outlook upgraded euro

Articole similare