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Banca Comerciala Romana LT Rating Raised to 'B'; Outlook Positive Nov 02
Standard & Poors, Nov 2002
Abstract
LONDON (Standard & Poor's) Nov. 13, 2002--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-', reflecting improvements in the bank's financial position and some improvement in the economic environment. The outlook is positive. The rating is also supported by the bank's dominant position in the Romanian financial markets, its good levels of capital adequacy and liquidity, prudent management, and the strong implicit and explicit support provided to BCR by the Romanian state (Republic of Romania; local currency BB-/Positive/B, foreign currency B+/Positive/B). These positive factors are offset, however, by the still poor economic environment, which is severely testing the Romanian banking system, and asset quality problems....
Companies mentioned in this report are: Banca Comerciala Romana,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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