Adrian Negrescu, after Moody's decision: Romania "has gained nothing, has avoided a loss"

Adrian Negrescu considers that maintaining Romania's rating by Moody's was the baseline scenario, and the country "has gained nothing, it avoided a loss". The sovereign rating remains at "Baa3", in the investment grade category, but the negative outlook indicates a higher probability of downgrade in the next 12-24 months.

According to the consultant, the next test will be the evaluation by S&P Global Ratings on October 2, 2026. Exiting the negative outlook would require reducing the budget deficit and the current account deficit, as well as a return to economic growth, under the conditions in which Romania has a window of maximum one year for reforms.