Standard&Poor's (S&P), the first major rating agencythat downgraded Romania in the autumn of 2008, announces it mayupgrade the rating if the government maintains the momentum of itscurrent structural reforms, ensures fiscal prudence and maintainsstability in the financial sector.
"If the government maintains the momentum of its currentstructural reforms, building a sustained track record of fiscalprudence and maintaining stability in the financial sector, wecould raise the ratings," says Marko Mrsnik, Standard&Poor'sSovereign Ratings director in the latest report of the ratingagency on Romania published on April 20, 2011.
Romania's rating is currently BBĂ, with a stable outlook. Thelatest modification was the upgrade of the rating outlook from"negative" to "stable" in March 2010. As a result of the financialcrisis, the agency suddenly downgraded Romania's rating from BBB-to BBĂ with a negative outlook on October 27, 2008, thus movingRomania back into the so-called speculative-grade territory.Anything below BBB- means speculative grade rating.
A potential change of the rating would mean two steps taken,because before the rating upgrade, the outlook usually changes,too, in this case from stable to positive.
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