Monday, Apr 27, 2020. 15:31

Moody’s revises Romania’s outlook to negative

Photo by Daniel J. Macy / Shutterstock.com

Moody’s Investors Service said it has changed the outlook on Romania to negative from stable while affirming the "Baa3" foreign and domestic long-term issuer and senior unsecured ratings, Trading Economics has reported.

Photo by Daniel J. Macy / Shutterstock.com

One of the key drivers for the change of the outlook are a structural deterioration in public finances compounded by an increase in long-term liabilities that relate to the 2019 pension reform, Moody’s said on April 24 in a press release.

The agency also voiced concerns about a worsening of the country’s external position with an increase in short-term foreign-currency debt that heightens the country’s susceptibility to event risk.

On April 17, Fitch Ratings also revised Romania’s outlook to negative from stable, while affirming its long-term foreign and local currency issuer default ratings at “BBB-“, Trading Economics noted.

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