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January 18, 2022

Standard & Poor’s undervalued BNR ratings for a year

The rating agency Standard & Poor’s (S&P) pulled out the ratings of the National Bank of Romania (BNR), as the institutions no longer has debts evaluated by the agency, Mediafax reports. This measure does not affect Romania’s ratings and S&P will continue to evaluate BNR’s credit situation at the same level as Romania’s rating.

Before pulling out the rating, S&P announced that, on account of an “administrative error”, the rating of the National Bank of Romania, directly linked with Romania’s rating, was not modified from negative to stable, over one year ago, that is, in March 2010, when the agency took this measure for the state rating. Thus, S&P corrected this error.
As a consequence, S&P rated Romania “BB+” in the foreign currency debt category and, respectively, “BBB-“ for local currency credits, both with a stable outlook.

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