LONDON (Standard&Poor's) April 19, 2002--Standard&Poor's said today it raised its long-term foreign currency ratings on the Republic of Romania to single-'B'-plus from single-'B', and its long-term local currency ratings to double-'B'-minus from single-'B'-plus. This reflects Romania's reduced vulnerability to external pressures, the lasting robust performance of its export sector, and more sustainable private-sector-driven economic growth. At the same time, the single-'B' short-term ratings on Romania were affirmed. The outlook is positive. "The export sector has benefited from steady inflows of foreign direct investment and the nascent modernization of the economy in recent years," said Standard&Poor's credit analyst Helena Hessel. "Ongoing fiscal consolidation and a significantly strengthened banking sector have facilitated lower lending rates and
