Coface keeps Romania rating unchanged at “B”

Rating agency Coface has left its sovereign rating on Romania unchanged at “B” in September, the lowest rating in Central and Eastern Europe, the agency said Wednesday. Romania and neighbor Bulgaria have been under "B" rating since June 2009. According to Coface analysts, Romania's economy will see a meager grow in the second half of 2011, after a decline estimated at 1.5 percent this year. Exports and industry are bound to fuel short-term economic recovery, while the country's macroeconomic stability is closely tied to the government's ability to manage a series of austerity measures aimed at fending off the effects of the recession. Mediafax