S&P likely to maintain Romania's rating in Dec - fin min

"My goal, of course, is to shift to a stable outlook for the economy. Therefore, every time we have discussions with the rating agencies, I will present our medium-term plans in order for them to clearly see that we are aiming at fiscal consolidation," Citu said during a news conference broadcast by local TV station Digi24.

In June, S&P maintained Romania's rating at BBB-/A-3, with a negative outlook and said it expects significant fiscal consolidation after the general election scheduled for December 6.

At the time, the agency decided to maintain the negative outlook, as it saw risks to Romania's fiscal and external balances over the following 18 months if policymakers cannot stabilize and consolidate the budgetary stance after this COVID-19-induced recession.

S&P revised the outlook on Romania to negative from positive in November 2019, because of rising fiscal and external deficits, while maintaining rating at BBB-/A-3.

(1 euro= 4.8698 lei)