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Governor Isarescu: S&P should redo report on Romania

Financial assessment agency Standard & Poor's (S&P) should send a team of experts to Romania for a reality check on site and redo the data that actually 'misses the issue' in the report whereby the agency lowered Romania's rating, governor of the National Bank of Romania (BNR) Mugur Isarescu on Monday told a press conference.

'We hope that S&P dispatches a team of experts to redo the two pages written beside the subject,' said Isarescu, who explained that Romania's public debt is very low compared to the country's GDP.

The BNR official also specified that no negotiations are being held with the International Monetary Fund (IMF) for a financial support because the public debt is not high and BNR has considerable reserves that increased by almost 1.3 bln euros in the last month alone.

Standard & Poor's Ratings Services the previous week announced that it had lowered its long- and short-term foreign currency sovereign credit ratings on Romania to 'BB+/B' from 'BBB-/A-3', and its local currency long-term rating to 'BBB-' from 'BBB'. The 'A-3' short-term local currency rating was affirmed. At the same time, the Transfer & Convertibility (T&C) assessment was lowered to 'BBB+' from 'A-', with negative outlooks, indicating that the balance of risks is on the downside - agency experts argued.

 

Sursa: http://www.rompress.ro

Tags: isarescu romania bnr

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