Moody's: Hidroelectrica insolvency affects in a negative way the credit profile of Romania
2012-06-27 10:13:20
Entry of Hidroelectrica in insolvency adversely affect the financial position of the Government and Romania's credit profile as increases the likelihood of the repaying debts of the company to the state budget and delay privatization, according to Moody's analysis. However, insolvency establishes a precedent that creates uncertainty among creditors at other state companies in Romania, says rating agency, which at the middle of the last week downgraded with four steps Hidroelectrica rating to "B2", with a negative outlook. Moody's assigns Romania rating "Baa3" with stable outlook, the last step in "investment grade" category of issuers with long-term investment recommendation.
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