Romanian Power Grid Operator Transelectrica Says S&P Confirms Its BB+ Rating, Negative Outlook

S&P confirmed Transelectrica's rating on September 30 when its contract with the Romanian company expired, the operator said in a statement late on Thursday.

Transelectrica has said it sees this year’s gross profit falling to 10 million lei ($3.4 million/2.3 million euro) from 51.2 million lei in 2008.

Transelectrica is listed on the Bucharest Stock Exchange, BVB, and is part of BVB’s blue-chip index BET. Its shares were trading 3.79% down at 12.7 lei by 0845 GMT on Friday.

(1 euro=4.2777 Romanian lei)