S&P affirms Romania

Standard & Poor's said it affirmed its BB+/B long- and short-term foreign and local currency sovereign credit ratings on Romania. The outlook is stable.

The transfer and convertibility assessment is BBB+.

The agency said the ratings on Romania are constrained by low prosperity and the economy's vulnerability to external shocks owing to high, albeit declining, external debt and dominant ownership of the banking sector by Austrian and Greek parent banks.

The agency said the ratings are supported by the country's improving fundamentals.

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