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October 2, 2022

Standard&Poor’s reconfirms stable outlook rating for Romania

Standard & Poor’s (S&P) rating agency reconfirms BBB-/A-3 rating for the short-term and long-term governmental debt in national and foreign currencies, as well as the stable outlook, according to a press release of the Ministry of Public Finance (MFP).

“The S&P rating agency’s decision to maintain the stable outlook in Romania’s case is a fair one, for it recognizes and confirms the current economic reality of Romania. This decision reflects both the Romanian Government’s openness to dialogue and the validity of the fiscal and budgetary measures adopted,” specified Eugen Teodorovici, the Minister of Public Finance.

According to the Ministry, among Romania’s strong points determining the rating agency’s decision there were highlighted: the moderate level of public debt and foreign debt, in comparison with most EU member states, and the still existing perspectives of economic growth.

An improvement of the country rating could also be taken into account in the context in which the agency finds that there are progresses recorded in what concerns the stability of the institutional framework and the budgetary consolidation, the firm placement of the public debt on an upward trend, as well as the strengthening of the governance framework, informs MFP.

Recently, the Minister of Finances stated that S&P will publish is final report “in a couple of days” and that the conclusion is very good for Romania, “although certain problems do appear on the foreign market when you don’t have the budget approved for an entire quarter.”

On March 2, the Standard & Poor’s confirms the ratings for the long-term and short-term debts in foreign currency and national currency for Romania at “BBB minus/A-3) and announced that the outlook associated to these qualifies will be announced in two weeks.

Romania request S&P to recheck the rating and the agency accepted this request. S&P said that the request was according to the policies and procedures of the agency.

Thus, S&P will not observe the usual calendar for 2019, in order to take time for solving this request. S&P intends to solve this problem in two weeks.

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