EBRD upgrades Romania’s banking system rating following crediting expansion

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EBRD upgrades Romania’s banking system rating following crediting expansion

EBRD upgraded the rating granted for the country’s capital market and non-banking financial institutions, from “2+” to “3-.” The better-than-expected rating for the banking area is also based on the improvement of legislation in this area.

The development of the stock exchange and especially of the bonds area made EBRD improve the rating for the capital market and the non-financial banking institutions. The EBRD report emphasizes the development of the financial sector in Romania was largely based on reforms and privatizations.

EBRD also upgraded Romania’s rating concerning its electricity infrastructure, from “3+” to “4-.” The move came after Electrica Muntenia Sud, the country’s largest electricity distribution company, was privatized.

Source: NewsIn