As Fitch Ratings has affirmed on Friday Romania’s long-term foreign and local currency issuer default ratings at ‘BBB- and BBB, respectively, both with stable outlooks, Finance Minister Anca Dragu says the decision was based on a balanced evaluation of the country’s progress and macroeconomic risks.
“We are happy about the recognition of progress in the public finance and financial stability areas; Fitch’s estimate on the economic growth is above the average of European countries and of countries with similar ratings. We are also aware about the risk factors pointed out by Fitch; they are taken into account for our analyses and decisions. The investment grade and the affirmation of a stable outlook increase the investor’s confidence in the evolutions of the Romanian economy, also highlighted by the costs and risk margins of Romania’s borrowing,” Dragu wrote in a release posted on her ministry’s website.
“The re-confirmation of Romania’s rating and stable outlook is also supported by the improved perspective of economic growth and by progress in the public finances area. From this point of view, our country is placed better than other states in the region with the same rating, as it has a lower debt level,” the minister’s release mentions.
Moody’s had improved Romania’s rating perspective from stable to positive, and affirmed the sovereign debt rating at Baa3 (investment grade) last December; and Standard&Poor’s had affirmed the BBB- rating with stable outlook for the country’s long-term sovereign debt last October.