S&P reaffirms Romania’s BBB- rating, maintains negative outlook despite fiscal measures

The credit rating agency Standard & Poor’s, or S&P, reconfirmed Romania's “BBB-/A-3” rating for long- and short-term debt while maintaining a negative outlook in its latest review published on July 24.

The agency noted that the recent fiscal measures meant to reduce the deficit, which it describes as Romania’s most substantial attempt at fiscal correction since the 2008 global financial crisis, are a positive step. However, it notes that economic and political challenges may undermine the government's ambitious policy agenda. Specifically, S&P highlights the end of 2026, when the current, reform-driven prime minister, Ilie Bolojan, must hand over the office to a Social Democrat.