Loading ...The decision of financial rating agency Standard & Poor’s to lower Romania’s long-term foreign currency sovereign credit rating to “BB+” from “BBB” and to “B” from “A-” for short-term foreign currency sovereign credit will be felt in the current account deficit and that will affect the small and medium sized companies, head of the Romanian Businessmen’s Association (AOAR) Florin Pogonaru said.
“The main problem of these companies at the moment is the general economic recession. The small and medium sized companies have contracts with the big companies. Over the next period, the SMEs will face problems related to taking out loans. In this respect, any measure to support these companies, such as granting subsidies for interests on loans is welcome,” Florin Pogonaru said.
The AOAR president also said “a first consequence of Standard & Poor’s downgrading Romania’s rating for long-term foreign currency sovereign credit is that the country would contract credits in a more difficult manner. When you have this investment grade you can pass easier through the filters necessary to receive crediting, but, without it, it is more difficult, given that the perspective is also negative.”
Standard & Poor’s has lowered its long-term foreign currency sovereign credit rating to “BB+” from “BBB” and to “B” from “A-” for short-term foreign currency sovereign credit. The outlook is negative in both cases.
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