Moody’s keeps Romania’s rating at Baa3, stable outlook

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Financial rating agency Moody’s Investors Service kept on Tuesday the rating for the Romanian government bonds at Baa3 and the outlook has been kept at stable, the agency said in a report.

Moody’s believes that Romania’s ratings are backed by the agreement set with the International Monetary Fund and the European Union as well as by the short- and long-term growth prospects.

Other important factors backing Romania’s rating are its quality of a European Union member and the foreign banks’ pledge to keep the financing for their Romanian-based subsidiaries.

Even though analysts say Romania is facing political turbulence ahead of the presidential elections in November, senior analyst at Moody’s Kenneth Orchard said he was seeing only limited political risks and that the programme for Romania’s convergence with the EU standards should provide long-term growth outlook.

Even though Moody’s believes Romania’s economy will not return on the short-term to the growth levels seen in the last years, the long-term growth prospects remain solid.

Moody’s is the only credit rating agency that gives Romania an investment-grade rating, after Standard&Poor’s and Fitch downgraded Romania to ‘junk’ over the macroeconomic imbalances and a lack of policies meant to resolve such imbalances.

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