Announcements

    Drinks

      Scope has completed a monitoring review for Romania
      FRIDAY, 27/11/2020 - Scope Ratings GmbH
      Download PDF

      Scope has completed a monitoring review for Romania

      Monitoring review announcement

      Scope Ratings reviews its ratings either yearly, or at least every six months in the case of sovereign, sub-sovereign and supranational issuers. Monitoring reviews are unrelated to the calendar that outlines public finance rating actions.

      Scope performs monitoring reviews to determine whether outstanding ratings remain proportionate. Monitoring reviews are conducted either by performing a portfolio review in terms of the applicable methodology, latest developments, and the rated entity’s financial and operational aspects relative to similarly rated peers; or through targeted reviews on an individual credit. Scope publicly announces the completion of each monitoring review on its website.

      Scope completed the monitoring review for Romania (BBB-/Negative; S-2/Negative) on 27 November 2020. This monitoring note does not constitute a rating action nor does it indicate the likelihood of a credit rating action in the short term. The latest information on the credit ratings in this monitoring note along with the associated rating history can be found on www.scoperatings.com.

      Key rating factors

      Romania’s BBB- rating is underpinned by i) EU membership supporting continued access to capital markets and long-term investment funding, ii) robust growth potential of more than 4% between 2015-19; and iii) still relatively low to moderate levels of public and private debt.

      The Negative Outlook reflects i) the deterioration in public finances following multiple years of expansionary fiscal policies and impact of the global health and economic crisis, and ii) limited official reserves to cover outstanding foreign currency denominated debt in a more stressed environment, narrowing the scope of monetary policy action available to support the domestic economy.

      The methodology applicable for the reviewed rating(s) and/or rating Outlook(s) (Rating Methodology: Sovereign Ratings, 9 October 2020) is available on https://www.scoperatings.com/#!methodology/list.
      This monitoring note is issued by Scope Ratings GmbH, Lennéstraße 5, D-10785 Berlin, Tel +49 30 27891-0.
      Lead analyst: Bernhard Bartels, Director

      © 2020 Scope SE & Co. KGaA and all its subsidiaries including Scope Ratings GmbH, Scope Analysis GmbH, Scope Investor Services GmbH and Scope Risk Solutions GmbH (collectively, Scope). All rights reserved. The information and data supporting Scope’s ratings, rating reports, rating opinions and related research and credit opinions originate from sources Scope considers to be reliable and accurate. Scope does not, however, independently verify the reliability and accuracy of the information and data. Scope’s ratings, rating reports, rating opinions, or related research and credit opinions are provided ‘as is’ without any representation or warranty of any kind. In no circumstance shall Scope or its directors, officers, employees and other representatives be liable to any party for any direct, indirect, incidental or other damages, expenses of any kind, or losses arising from any use of Scope’s ratings, rating reports, rating opinions, related research or credit opinions. Ratings and other related credit opinions issued by Scope are, and have to be viewed by any party as, opinions on relative credit risk and not a statement of fact or recommendation to purchase, hold or sell securities. Past performance does not necessarily predict future results. Any report issued by Scope is not a prospectus or similar document related to a debt security or issuing entity. Scope issues credit ratings and related research and opinions with the understanding and expectation that parties using them will assess independently the suitability of each security for investment or transaction purposes. Scope’s credit ratings address relative credit risk, they do not address other risks such as market, liquidity, legal, or volatility. The information and data included herein is protected by copyright and other laws. To reproduce, transmit, transfer, disseminate, translate, resell, or store for subsequent use for any such purpose the information and data contained herein, contact Scope Ratings GmbH at Lennéstraße 5, D-10785 Berlin. Scope Ratings GmbH, Lennéstraße 5, 10785 Berlin, District Court for Berlin (Charlottenburg) HRB 192993 B, Managing Director: Guillaume Jolivet.

      Related news

      Show all
      Scope affirms European Financial Stability Facility’s AA+ rating with Stable Outlook

      19/7/2024 Rating announcement

      Scope affirms European Financial Stability Facility’s AA+ ...

      Scope affirms European Stability Mechanism’s AAA rating with Stable Outlook

      19/7/2024 Rating announcement

      Scope affirms European Stability Mechanism’s AAA rating with ...

      Germany: 2025 draft budget tests debt brake flexibilities to partially address investment needs

      19/7/2024 Research

      Germany: 2025 draft budget tests debt brake flexibilities to ...

      Egypt gains room for manoeuvre but vulnerability to external shocks remains

      19/7/2024 Research

      Egypt gains room for manoeuvre but vulnerability to external ...

      Scope affirms Greece’s BBB- ratings and revises Outlook to Positive

      12/7/2024 Rating announcement

      Scope affirms Greece’s BBB- ratings and revises Outlook to ...

      Scope affirms Italy's BBB+/Stable long-term credit ratings

      12/7/2024 Rating announcement

      Scope affirms Italy's BBB+/Stable long-term credit ratings