Agentia Moody's da note mai bune Romaniei

Moody's raises Romania's rating two notches to "Ba1"
Wed Mar 2, 2005 10:51 AM ET
NEW YORK, March 2 (Reuters) - Moody's Investors Service said on Wednesday it upgraded Romania's credit rating two notches to "Ba1" on strengthening economic policies that reflect a prospective European Union integration.

Moody's raised Romania's country ceiling for foreign currency bonds to "Ba1" from "Ba3," while the country ceiling for foreign-currency bank deposits was raised to "Ba2" from "B1." The agency also raised the government's ratings for foreign- and local- currency bonds to "Ba1."

The outlook on all ratings is positive. Romania's local currency guideline is "Aa3."

Romania was designated a "functioning market economy" by the EU in October, and in December the EU reiterated its plan to admit Romania, along with Bulgaria, to its ranks in January 2007. The EU also accelerated the date for signing the membership treaty to April 2005.

Romania's benchmark global bond due to mature in 2012 , was up 0.34 point in price to bid 128.260, yielding 3.902 percent.

"EU membership provides both the framework and incentives for the government to continue along the path of reform while reducing policy variability," Moody's said in a statement.

EU membership also furnishes support for sustaining the growth momentum now underway and for further improving the government's debt and debt-service burden, the agency said.

Improvements have been made in Romania's external liquidity and government finances and debt, as well as in the context of a recovery in growth and declining inflation, Moody's added.


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