Saturday, September 29, 2007

Romania's ratings affirmed with stable outlook - Fitch

MUMBAI (Thomson Financial) - Fitch Ratings affirmed Romania's ratings with a stable outlook, saying the ratings are supported by sustained GDP growth and solid public finances, as well as the structural and institutional reform undertaken to secure EU entry.

"But with the current account deficit set to hit 13.5 pct in 2007, risks are building up in the external finances. While these risks should be manageable, Romania's prospects for a soft landing would be boosted by more disciplined fiscal policy, the agency said.

Fitch has long-term foreign currency issuer default rating at 'BBB' and long-term local currency IDR at 'BBB+', country ceiling at 'A-' and short-term IDR at 'F3' on the nation.

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