The dramatic downfall of Romania's shortest lived government has made analysts at ratings agency Fitch a little nervous. A spokesperson from Fitch said that any significant change in fiscal policy, or tempering of the austerity measures agreed with international institutions in an attempt to gain popularity, could put downward pressure on the country's rating.

Fitch Ratings does give Romania credit for its previous compliance with EU and IMF guidelines and underlines that although members of the recently victorious left wing coalition, the USL, have criticized austerity measures, they have pledged to work with the IMF and presumably follow guidelines set. Fitch upgraded Romania to BBB- last July and the outlook remains stable.

However, possible new government policy resulting from the elections in November could affect the future credit rating for Romania.

Romania's Government was toppled last week after a vote of non-confidence. Leftist and opposition leader Victor Ponta was designated to create a new Government. We wrote about it here.

Liam Lever, liam@romania-insider.com