S&P Downgrades Romanian Transgaz To 'BB+'; Outlook Stable
Standard & Poor's Ratings Services on Wednesday said it lowered its local currency long-term corporate credit rating on Romanian natural gas transmission operator Transgaz Medias (TGN.RO) to 'BB+' from 'BBB-', following a similar action on Romania's sovereign ratings.
On November 29, S&P cut Romania’s local currency sovereign credit rating to ‘BB+/B’ from ‘BBB-/A-3’, following a revision of its methodology for rating sovereign governments.
Wednesday, the agency affirmed Transgaz’s ‘BB+’ foreign currency rating. The rating outlook is stable.
At the same time, S&P revised its assessment of Transgaz’ stand-alone credit profile to ‘bb+’ from ‘bbb-‘ previously.
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