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Romanian City of Bucharest 'BB+' L-T Ratings Affirmed On Economic Development; Outlook Stable Mar 06 Product Image

Romanian City of Bucharest 'BB+' L-T Ratings Affirmed On Economic Development; Outlook Stable Mar 06

  • ID: 1810652
  • March 2006
  • Region: Romania
  • Standard & Poors

Abstract
MOSCOW (Standard & Poor's) March 20, 2006--Standard & Poor's Ratings Services said today it affirmed its 'BB+' long-term issuer credit rating on the Romanian capital City of Bucharest, based on sustainable economic development and the city's commitment to containing debt accumulation. The outlook is stable. "The rating on Bucharest reflects the city's high debt burden, its low financial flexibility, and the need for better transparency," said Standard & Poor's credit analyst Felix Ejgel. "These constraints are mitigated by Bucharest's strategic position as Romania's capital city, its consistently sound operating balances, and steady revenue growth." High infrastructure needs restrict the city's financial flexibility and have led to rapid debt accumulation. With a -500 million bond issued in 2005, the city's direct...

Companies mentioned in this report are: Bucharest (City of)
Action: Affirmed

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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