Research Update: Republic Of Romania Outlook Revised To Stable On Sustained Budgetary Reform Effort; All Ratings Affirmed Mar 10

Standard & Poors, March 2010

Abstract
The Romanian government has been successful to date in implementing its fiscal consolidation program, as reflected in the first three IMF reviews and subsequent receipt of IMF disbursements. We believe that Romania is likely to continue to comply with the IMF/EU standby agreement, thereby further easing external financial pressures. We are revising our outlook on Romania to stable from negative. The stable outlook reflects our view that the government is likely to reinforce its ongoing budgetary consolidation effort with structural improvements in its fiscal framework. On March 9, 2010, Standard & Poor's Ratings Services revised its outlook to stable from negative on the long-term local and foreign currency sovereign credit ratings on the Republic of Romania. At the same time,...

Companies mentioned in this report are:
- Romania
- National Bank of Romania

Action: Outlook: Stable

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

- Romania
- National Bank of Romania

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