In our view, Romania's high, albeit declining, external debt burden and low institutional capacity are balanced by the considerable progress it has made on economic rebalancing and fiscal consolidation since 2009. We are therefore affirming our 'BB+/B' long- and short-term foreign and local currency sovereign credit ratings on Romania. The stable outlook reflects our opinion that Romania's government will continue to consolidate its public finances largely in line with the targets it has specified, and that the net external liability position broadly edges downward as the current account deficit remains more moderate than in the recent past. LONDON (Standard&Poor's) May 9, 2013--Standard&Poor's Ratings Services said today that it affirmed its 'BB+/B' long- and short-term foreign and
