LONDON (Standard&Poor's) Feb. 1, 2005--Standard&Poor's Ratings Services revised its outlook on the Republic of Romania to positive from stable. At the same time, the 'BB+' long-term and 'B' short-term foreign currency, and the 'BBB-' long-term and 'A-3' short-term local currency sovereign credit ratings on Romania were affirmed. "The outlook change is based on the commitment of the new centrist government to step up Romania's economic and institutional reforms, which will in turn solidify the prospect of Romania's timely accession to the EU in 2007," said Standard&Poor's credit analyst Moritz Kraemer. "At the same time, budgetary developments are likely to improve relative to previous estimates, despite a radical tax reform introduced by the new government
