Fitch Cuts Romania Credit Outlook, Warns of Budget Fix Delay
- Romania is facing a re-run of presidential election next year
- Fitch has revised up its forecast for country’s budget deficit
Fitch Ratings signaled it may cut Romania’s credit grade, citing high political uncertainty that’s likely to delay plans to reduce the European Union’s highest budget deficit ahead of a presidential election re-run next year.
Fitch lowered the outlook on Romania’s BBB- rating, the lowest investment level, to negative from stable in an unscheduled decision late Tuesday, sending a warning to pro-European parties as they struggle to form a coalition after parliamentary elections this month.