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Banking Industry Country Risk Assessment On Republic of Romania Raised To Group 7 Aug 08
Standard & Poors, Aug 2008
Abstract
LONDON (Standard & Poor's) Aug. 4, 2008--Standard & Poor's Ratings Services said today that it raised its Banking Industry Country Risk Assessment (BICRA) on The Republic of Romania (foreign currency BBB-/Negative/A-3; local currency BBB/Negative/A-3) to Group 7 from Group 8. At the same time, Standard & Poor's changed its estimate of the incidence of gross problematic assets (GPAs) in the Romanian financial system under a reasonable (but not catastrophic) scenario of economic recession to 25%-40% from 35%-50%. The BICRA upgrade reflects the good growth and profitability performance of the Romanian banking sector, following several years of a healthy growth pace and accumulating wealth in the economy; and massive inflow of foreign investments into the banking sector, which has created a...
Companies mentioned in this report are: Romania,National Bank of Romania,Banca Comerciala Romana
Action: General Comment
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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