17:04, 4.08.2008 S&P Lowered Estimates On Incidence Of Recession In Romania

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BUCHAREST / 17:04, 4.

08.2008 Standard&Poor"s Ratings Services changed Monday its estimate of the incidence of gross problematic assets in the Romanian financial system under a reasonable (but not catastrophic) scenario of economic recession to 25%-40% from 35%-50%, the ratings agency said.S&P also raised its Banking Industry Country Risk Assessment on Romania to group 7, from the previous group 8 assessment."The upgrade reflects the good growth and profitability performance of the Romanian...

Read the whole story in: Mediafax