Wednesday, 23. April 2014 - 12:04
07. 06. 12. - 17:00
Rating agency Moody’s has downgraded today (Thurs) the ratings of two Romanian banks, the subsidiaries of Raiffeisen and Erste Group, namely Raiffeisen Romania and Banca Comerciala Romana (BCR). Both banks has been put under speculative ratings, Moody's informed by a communique.
BCR's rating for long term deposits in local currency (RON) was cut to "Baa2" from "Ba1" and the rating for long term deposits on foreign currencies was reduced to "Baa3" from "Ba1", both with negative outlook.
The deposits in local currency of Raiffeisen Bank SA had been downgraded from "Baa3" to "Ba1", with stable outlook.
While BCR’s new rating has a negative outlook, Raiffeisen Romania’s is stable. A deteriorating operating environment in Romania is given as a reason for both downgrades, while BCR’s rating was also affected by "the bank’s rapidly weakening financial performance."
Moody’s admits however the support of the parent bank’s to their Romanian subsidiaries as counterbalancing factors.
The move comes a day after Moody's downgraded the ratings of seven German banks, including Commerzbank and three Austrian banks, namely Erste, Raiffeisen and UniCredit Bank Austria which are controlling the subsidiaries from Central and Eastern Europe of the Italian group Unicredit.
Policeman Beating Girl, 13, Divides Romania
A Romanian police officer has resigned after a video that has split the country showed him beating a 13-year-old girl in custody who was part of a gang of convicted killers that preyed on the elderly.
Granny Spinner Likely To Escape With 30 GBP Public Order Fine
The Romanian teenager who grabbed a terrified woman and spun her around in the middle of a street for a "joke" is likely to escape with a 30 GBP fine - because his victim is too terrified to file a complaint.
National History Museum shows ancient gold coins returned from UK
The Romanian National History Museum in Bucharest has exhibited a rare collection of ancient gold coins that had vanished and have now been returned from the UK where the customs had held them.
Romanian woman gives a birth for free in Serbian hospital and then leaves a baby
Hospital staff in the northern Serbian town of Pozarevac where shocked when a Romanian woman entered there, gave birth and then secretly left abandoning the baby.
Arctic opens a new fridge production line in Gaesti
Romanian company Arctic has opened a new fridge production line in the town of Gaesti in the south of the country.
Romanian businessmen discuss cooperation with Oman
Businessmen representing Romanian companies will stay in Oman for two days discussing possible ways of cooperation between the two countries.
Serbia is a homeland of vampires, not Romania, claims American journalist
An American journalist has revealed the homeland of vampires is Serbia, not Romania.
Simona Halep wins a tournament in Sofia
Romanian tennis star Simona Halep has won the WTA tournament in Sofia, the capital of Bulgaria.
Emil Constantinescu meets president of Azerbaijan
Former President of Romania Emil Constantinescu has met the president of Azerbaijan Ilham Aliyev in Baku
Architect of Romanian Parliament Palace dies
The Architect of the Parliament Palace in Bucharest has died.
The most popular stories –
last 7 days