LONDON (Standard&Poor's CreditWire) Aug. 4, 2000--Reflecting the ongoing improvement in international reserves and some reform progress that has helped to regain international support, Standard&Poor's today changed the outlook on the Republic of Romania's ratings to stable from negative. At the same time, Standard&Poor's affirmed Romania's single-'B' long-term local currency issuer credit rating and its single-'B'-minus long-term foreign currency and senior unsecured rating. Romania's single-'C' short-term local and foreign currency rating remains unchanged. Romania's ratings continue to be constrained by its fragile and largely unreformed economy, weak public finances, and political uncertainty. Although Romania's economy is poised for growth of about 1.5% this year and up to 3.0% in 2001, owing to a solid export
