Fitch reconfirms Romania rating, revises economic outlook

Fitch has confirmed the rating on Romania’s non-Governmental debt on the long – term, to BBB- for foreign currency and to BBB for local currency. It kept Romania in the investment grade, but revised downwards the economic growth prognosis for this year, from 2.8% to 2.2%. The country ceiling was confirmed at BBB+, while the stable perspective on the governmental debt was also re-confirmed. Fitch analysts expect Romania to keep within its budget deficit target of 2.2% in the GDP. The ratings agency expects an acceleration in the economy between 2016 and 2016, to 3% yearly, including via re-starting investments.   Romania witnessed technical recession, with two consecutive quarters of GDP drop, after the economic contraction of 1% in the second quarter of 2014, the highest drop in the EU.Tags: , ,