International ratings agency Standard and Poor's has raised Romania's credit outlook to positive from stable, the Rompres news agency reported Tuesday
Published:
2 February 2005 y., Wednesday
International ratings agency Standard and Poor's has raised Romania's credit outlook to positive from stable, the Rompres news agency reported Tuesday.
Standard and Poor's said the upgrade was due to increased confidence in the willingness and ability of the new center-right government to combat corruption and to institute reforms required for European Union membership in 2007.
The ratings agency also affirmed Romania's A-3 short term and BBB- long term local currency rating. Its long and short term foreign currency ratings stand at BB+ and B, in that order.
Romania hopes to gain an upgrade in its long term foreign currency rating to investment grade within the year.
Analysts say Romania is likely to be admitted to the European Union on schedule, but say the government will have to work hard to reduce corruption in the judiciary and the public administration system.
Šaltinis:
Big News Network.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Of the 10 new members that joined the European Union in May 2004, the majority of the eight former communist bloc countries plan tight budgets for 2005
more »
Mikhail Fradkov, Russia’s Prime Minister, has stunned the business community by saying his country's secret service must spy on large corporations to guarantee economic growth
more »
Moldovan industrial production advanced 6.4 percent in 2004 to USD1.415bn, the Statistics and Sociology Department of the republic announced
more »
Lithuania has the lowest inflation rate among the Baltic States
more »
Bulgaria's First Investment Bank issued EUR 200 M of bonds with a three-year maturity in a sale managed by ABN Amro and Dresdner Kleinword Wasserstein
more »
Latvian Prime Minister Aigars Kalvitis said he will lead a new effort to prosecute and prevent money laundering in the Baltic state to avoid international sanctions against the country's banks
more »
Seminar on development of non-cash settlements with use of plastic cards in Uzbekistan
more »
A 40-member Azerbaijani business delegation is scheduled to leave for Rome to attend an Italy-Azerbaijan conference on investments due on February 25
more »
Latvia, the European Union's fastest growing economy, is ready to link its currency to the euro in a two-year test period prior to adopting Europe's common currency
more »
Koizumi says Japan's economy recovering, vows to fight deflation
more »