London -- Standard&Poor's CreditWire 10/19/98 -- Standard&Poor's today lowered its long-term foreign currency issuer credit rating on the Republic of Romania to single-'B'-minus from single-'B'-plus and the long-term local currency issuer credit rating on Romania to single-'B'-plus, from double-'B'. At the same time, Standard&Poor's also lowered Romania's short-term foreign currency rating to single-'C'; the short-term local currency rating remains at single-'B'. The senior unsecured foreign currency rating on the National Bank of Romania is also lowered to single-'B'-minus from single-'B'-plus. Both outlooks on the long-term ratings are negative. The downgrades are prompted by growing concern over potential default in 1999. A quick resumption of an IMF program combined with notable capital inflows would be
