Fitch foresees 1% economic drop in Romania, no rating improvement in sight
Fitch improved Romania's rating from negative to stable, which is more important than the rating itself, according to Hunter. Romania also got the BB plus rating for its long term foreign currency debt and BBB minus for its local currency debt.
International rating agencies have recently been under the spotlight after the US Senate released a document detailing the rating agencies' handling of and alleged complicity in the financial crisis. Read more about the accusations against rating agencies here.