Fitch pulls Romania from junk

Fitch Ratings said it upgraded Romania's long-term foreign currency and local currency sovereign ratings to BBB- and BBB respectively, from BB and BB+.

At the same time, the short-term rating and country ceiling are upgraded to F3 from B and to BBB- from BB, respectively. Following the upgrade, the outlook is stable.

Fitch said the upgrade is supported by Romania's prudent fiscal policy, advances on key structural reforms and good prospects on European Union accession.

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