Romania Credit Ratings

Romania

Moody's		S&P		Fitch		DBRS		Scope Ratings
Rating	Outlook	Rating	Outlook	Rating	Outlook	Rating	Outlook	Rating	Outlook
Baa3	Negative	BBB-	Stable	BBB-	Negative	NR	-	BBB-	Negative

Rating Agency	Date	Previous Rating	Previous Outlook	New Rating	New Outlook
S&P	Apr 16, 2021	BBB-	Negative	BBB-	Stable
Moody's	Apr 24, 2020	Baa3	Stable	Baa3	Negative
Fitch	Apr 17, 2020	BBB-	Stable	BBB-	Negative
S&P	Dec 10, 2019	BBB-	Stable	BBB-	Negative
Scope Ratings	Oct 19, 2018	BBB	Negative	BBB-	Negative
Scope Ratings	Nov 3, 2017			BBB	Negative
Moody's	Apr 21, 2017	Baa3	Positive	Baa3	Stable
Moody's	Dec 11, 2015	Baa3	Stable	Baa3	Positive
S&P	May 16, 2014	BB+	Positive	BBB-	Stable
Moody's	Apr 25, 2014	Baa3	Negative	Baa3	Stable
S&P	Nov 22, 2013	BB+	Stable	BB+	Positive
Moody's	Jun 29, 2012	Baa3	Stable	Baa3	Negative
Fitch	Jul 4, 2011	BB+	Stable	BBB-	Stable
S&P	Mar 9, 2010	BB+	Negative	BB+	Stable
Fitch	Feb 2, 2010	BB+	Negative	BB+	Stable
Fitch	Nov 9, 2008	BBB	Negative	BB+	Negative
S&P	Oct 27, 2008	BBB-	Negative	BB+	Negative
Fitch	Jan 31, 2008	BBB	Stable	BBB	Negative
S&P	Nov 6, 2007	BBB-	Stable	BBB-	Negative
S&P	Apr 5, 2007	BBB-	Positive	BBB-	Stable

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risks	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative	Ca	CC	CC	CCC	CC
Extremely Speculative			C	CCC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR