Loading ...Standard&Poor’s revised negatively on October 28 the rating of the Romanian capital Bucharest from “Stable” to “Negative”, following the decrease in the country’s rating and it confirmed the long-term “BB+” loans, a press release of the financial assessment agency reports.
“We revised the perspective due to the falling of Romania’s rating”, Standard&Poor’s analyst Jean-Louis Renaud said.
“We revised the perspective due to the falling of Romania’s rating”, Standard&Poor’s analyst Jean-Louis Renaud said.
The rating reflects the high indebtedness degree of the Bucharest Municipality, the need to improve the debt and liquidity management, the low financial flexibility and the obstacles the major infrastructure-related projects are facing. Bucharest rating has a negative perspective, due to the falling revision of Romania’s rating.The evolution of Bucharest rating will follow the country’s rating, the press release informs.
“If Romania’s perspective is revised to “Stable” or “Positive”, then Bucharest perspective might also be upgraded to “Stable”, provided that Bucharest will meet our initial expectations. Ratings will be decreased if the country rating is downgraded or the financial profile of the city is impaired”, Renaud said.
Standard&Poor’s on October 27 announced the decrease in Romania’s rating for long-term foreign currency loans from BBB- to BB+, while the rating for short-term loans dropped to B from A- , both with “negative” perspective.
Standard&Poor’s on October 27 announced the decrease in Romania’s rating for long-term foreign currency loans from BBB- to BB+, while the rating for short-term loans dropped to B from A- , both with “negative” perspective.
The S&P analysts have also confirmed the short-term rating for the national currency of A-3, while the transfer and convertibility were downgraded from A- to BBB+. S&P maintained the negative perspective for the two ratings, referring to a increase in the country’s risk for Romania.
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