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Article: ROMANIA: RATINGS UPGRADED.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- December 11, 2003
CopyrightCOPYRIGHT 2003 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service has upgraded Romania's country ceiling for foreign currency bonds to Ba3 from B1 and the ceiling for foreign currency bank deposits to B1 from B2. Accordingly, the ratings of the government's foreign currency bonds have been raised to Ba3. The government's domestic currency bond rating has also been raised to Ba3. The outlook on all ratings is stable. Moody's says that the upgrade primarily reflects the fact that Romania's resilience to external shocks has strengthened over the last few years. Beyond improving its external liquidity position, the country has made progress in establishing sounder macroeconomic and political frameworks and in ...