Fitch Ratings reconfirms stable outlook rating for Romania

Fitch Ratings has reconfirmed on Friday Romania's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, the Public Finance Ministry (MFP) announced on its Facebook page. According to the quoted source, the agency decision is supported by moderate levels of government debt, and the GDP per capita and human development indicators that are above 'BBB' category peers. "The reconfirmation of Romania's rating by Fitch, similar to the Standard & Poor's decision in March, represents an important step in our demarche to improve the country's rating. In the next period we will focus all the efforts on strengthening predictability and macroeconomic stability. The success of this demarche will be reflected directly in lowering the financing cost, increasing the competitiveness of the Romanian companies and increasing the attractiveness of our country as an investment destination," Minister of Public Finance Eugen Teodorovici stated. The main factors that could lead to the improvement of the country's rating are: reducing risks over macroeconomic stability and improve the credibility of macroeconomic policies, ensuring fiscal consolidation that would improve the long-term trajectory of the government debt ratio in the GDP, as well as improving external financial position. In mid-March, Standard & Poor's rating agency (S & P) reconfirmed BBB-/A-3 rating for the short-term and long-term governmental debt in national and foreign currencies, as well as the stable outlook. AGERPRES (RO - editor: Nicoleta Gherasi; EN - editor: Rodica State)