Standard & Poor's lowers rating for Romanian hydro energy producer

Standard & Poor’s (S&P) revised the ratings for the Romanian company Hidroelectrica, the main hydro energy producer, from „stable” to „negative”, because of the possible deterioration of the macroeconomic conditions in Romania. The rating for long term loans of the company remained at BB.

Last week, S&P lowered the country rating for Romania’s long term loans in convertible currencies from BB plus to BBB minus.

As a result, the Romanian Commercial Bank (BCR), owned by Erste, saw its rating decreasing from BBB minus to BB plus, while the national natural gas transport company, Transgaz, had the same evolution for credits in convertible currencies.