Business in Romania blog
The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.



Thursday, May 26, 2005
Business in Romania blog
Standard & Poor's Ratings Services said it raised its long-term issuer credit ratings on the Romanian capital City of Bucharest to 'BB+' from 'BB'. The outlook is stable.

"The rating action is based on the city's improving debt management, increased implementation of much-needed infrastructure investments, and its growing economy, which is supported by the commitment of the new central government to step up economic and institutional reforms in Romania. This should lead to further growth in city's budget revenues," said Standard & Poor's credit analyst Felix Ejgel.

The ratings on Bucharest continue to be supported by its strategic position as the Republic of Romania's (foreign currency BB+/Positive/B; local currency BBB-/Positive/A-3) capital city, its consistently sound operating balances, and a relatively supportive intergovernmental system. The ratings are constrained, however, by low financial flexibility, partly due to high infrastructure needs, expected fast foreign-currency denominated debt growth, and a need for better transparency.

Standard & Poor's expects that the steady development of the city's economy and infrastructure will continue to support the growth of city budget revenues. Accompanied by the expected inflow of EU funds and supportive nature of the Romanian system, this will help Bucharest to ease its debt burden and stabilize budgetary performance from 2007.

Posted by Mihai Botea : 5/26/2005 10:47:00 am Bucharest's rating reviewed to BBplus
Business in Romania blog
Business in Romania blog


Business Archives

06/01/2004 - 07/01/2004
08/01/2004 - 09/01/2004
09/01/2004 - 10/01/2004
10/01/2004 - 11/01/2004
11/01/2004 - 12/01/2004
12/01/2004 - 01/01/2005
01/01/2005 - 02/01/2005
02/01/2005 - 03/01/2005
03/01/2005 - 04/01/2005
04/01/2005 - 05/01/2005
05/01/2005 - 06/01/2005
06/01/2005 - 07/01/2005
07/01/2005 - 08/01/2005
08/01/2005 - 09/01/2005
09/01/2005 - 10/01/2005
10/01/2005 - 11/01/2005
11/01/2005 - 12/01/2005
12/01/2005 - 01/01/2006
01/01/2006 - 02/01/2006
02/01/2006 - 03/01/2006


www.flickr.com
This is a Flickr badge showing public photos from Mihai Botea. Make you own badge here.


Add Business in Romania to My Yahoo!
Google


Previous Posts

Links

Business in Romania Feed Burner
 

Business in Romania is powered by Blogger

This website is proud to be designed by Mihai Dragan

I usually listen to THIS kind of music.