LONDON -- Standard&Poor's CreditWire 1/23/98 -- Standard&Poor's today affirmed its single-'B' short-term foreign currency sovereign credit rating on the Republic of Romania. However, Standard&Poor's placed the republic's double-'B'-minus long-term foreign currency sovereign credit and senior unsecured ratings, as well as its triple-'B'-minus long-term and 'A-3' short-term local currency sovereign credit ratings, on CreditWatch with negative implications. At the same time, Standard&Poor's also placed the double-'B'-minus senior unsecured debt ratings of the National Bank of Romania on CreditWatch with negative implications. The CreditWatch listings reflect the growing possibility of a downgrade, following a sharp slowing in the pace of economic restructuring and privatization. These factors, aggravated by weeks of political uncertainties, have begun
