Rating agency Standard and Poor's has warned that it might downgrade the ratings of several countries, including Romania, if the economic problems in Greece affect these countries’ banking systems.

“We don’t exclude the possibility of government intervention to support banks. If the support substantially weakens the fiscal systems and the national debts’ balance, this will have a negative impact on our sovereign ratings,” according to S&P, reports local Wall-street.ro.

Nicolae Cinteza, director of Romanian National Bank’s Supervisory Department said earlier this week that local subsidiaries of Greek banks were well capitalized, with an average solvency ratio of 17.3%, compared to a minimum of 10% imposed by the BNR.

editor@romania-insider.com