Fitch lifts Rompetrol view to stable

Fitch Ratings said it changed the outlook of Netherlands-based The Rompetrol Group NV's B- issuer default rating to stable from negative.

The agency said the rating action reflects improved corporate governance, including a strengthened management team and corporate restructuring, as well as the Bucharest Court of Appeal's decision to reject the General Prosecutor's Office of Romania request to place Rompetrol's two owners in pre-trial detention.

The rating continues to reflect the favorable location, complexity and strong operating results of Rompetrol's key refinery in Romania, Fitch said, and also reflects the group's increased geographical diversification after the recent acquisition of Dyneff, a French fuel retail and storage business.

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