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Romania’s rating for long and short term debt in foreign and local currency was confirmed at “BBB minus / A-3” by the renowned international rating agency. At the same time, Standard & Poor’s (S&P) maintained its negative outlook, according to a statement from the financial rating agency. Therefore, the Romanian economy benefits from a favorable investment rating from international financial rating agencies.
On October 30, 2020, another financial rating agency, Fitch Ratings, confirmed Romania’s sovereign rating at “BBB minus”, with a negative outlook, in the “investment grade” category, recommended for investments.
Romania’s rating is supported by a moderate level of public debt, as well as a GDP per capita and indicators of governance and human development, which are superior to other states that benefit from a rating of the “BBB” category, the officials said. from Fitch Ratings.
The rating agency Moody’s also kept Romania’s rating in the recommended category for investors. This confirmed, in April 2020, Romania’s “Baa3” long-term sovereign rating.
Cîțu proclaims his victory
The latest press release, from Standard & Poor’s, drew a reaction from the Minister of Public Finance, Florin Cîțu. He made a post on Facebook, in which he proclaimed his “victory.”
“The Liberal government has earned the trust of investors and achieved the impossible as Standard & Poor’s maintains Romania’s rating,” Finance Minister Florin Citu wrote on his Facebook page late Friday.
“Victory! I did the impossible. Standard & Poor’s maintained Romania’s rating! In a year in which most developed countries have suffered country rating cuts (Italy has achieved Romania’s rating), we, the liberal government, we have earned the trust of investors. The rating agency assessed the moderate level of public debt and foreign debt, but also the belief that the government that will be appointed after the general elections in December this year will reduce fiscal imbalances and will continue to provide broad fiscal support to drive economic recovery in 2021, ”Florin Cîțu also wrote in his post.
