Romania Jul 11

Standard & Poors, July 2011

Abstract
Strong growth prospects Moderate general government debt Narrowing external imbalances Continued structural weaknesses in public finances, reflected in low tax collection and government arrears Significant external debt and reliance on cross border interbank funding Limited administrative capacity evidenced by low absorption of EU funds and high perceived levels of corruption The ratings on Romania balance our view of the country's strong economic growth potential and moderate general government debt against its limited administrative capacity, relatively low prosperity and high, if declining, levels of external debt. We expect the Romanian economy will stage a modest recovery in 2011 and strengthen steadily thereafter. In our view, growth will be muted in the short term owing to continued fiscal adjustment and household deleveraging,...

Companies mentioned in this report are:
- Romania
- Turkey (Republic of) (Unsolicited Ratings)
- Hungary
- Latvia (Republic of)
- Lithuania (Republic of)
- Bulgaria (Republic of)
- Serbia (Republic of)

Action: Review

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: Full Analysis

- Romania
- Turkey (Republic of) (Unsolicited Ratings)
- Hungary
- Latvia (Republic of)
- Lithuania (Republic of)
- Bulgaria (Republic of)
- Serbia (Republic of)

Customers who bought this item also bought

• The European University Libraries Directory 2013
• The European Foundations Directory 2013
• International Country Risk Guide Annual
• Border Security Market Assessment-EU Accession States
• Critical Infrastructure Security Market Assessment EU-Accession
• The EU Defence Market: Industry and National Procurement
• International Military and Civilian Unmanned Aerial Vehicle Survey
• Airport Passenger Screening Market Assessment EU-Accession States
• European Manned Guarding Market
• Romania Defence and Security Report Q1 2013