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Banca Comerciala Romana Rating Raised to 'B+' on Improved Economy; Outlook Positive Jan 04
Standard & Poors, Jan 2004
Abstract
LONDON (Standard & Poor's) Jan. 19, 2004--Standard & Poor's Ratings Services said today it raised its long-term counterparty credit rating on Romania-based Banca Comerciala Romana (BCR) to 'B+' from 'B', following improvements in its operating environment and steps toward privatization. The outlook is positive. 'The upgrade reflects the continued restructuring and modernization of the economy of the Republic of Romania (foreign currency, BB/Positive/B; local currency, BB+/Positive/B), which is underpinning robust growth, driven by exports and investment,' said Standard & Poor's credit analyst Magar Kouyoumdjian. 'In addition, the upgrade reflects initial steps in the privatization of BCR, which is likely to aid the bank's development by bringing in new technologies and improving financial flexibility,' added Mr Kouyoumdjian. Privatization is one of...
Companies mentioned in this report are: Banca Comerciala Romana,International Finance Corp.,European Bank for Reconstruction and Development,Romania
Action: Upgraded
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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