S&P Lists BNR Outlook Stable With One Year Delay, Citing Administrative Error

05.20.2011 ZF English

Standard & Poor's Rating Services Thursday said that due to an administrative error the rating outlook on the National Bank of Romania (BNR, the central bank of Romania), which is linked to that of Romania, had been incorrectly listed as negative for more than one year.

S&P rates Romania's foreign currency debts at BB+, with a stable outlook, while the local currency rating is BBB-, with a stable outlook as well.

"The rating outlook on Romania was revised to stable from negative on March 9, 2010. The rating outlook on BNR should have been revised to stable on the same date," S&P said in a statement.

"We have now corrected this error," S&P concluded.