S&P Global Ratings on Friday affirmed Romania's sovereign rating at BBB- with a
negative outlook. Markets rallied: the 10-year government bond yield fell 12 bps
to 7.24%, roughly 40 bps below a week earlier, and USD‑denominated Romanian
bonds were among Monday's best-performing emerging‑market debt. Bucharest's
benchmark equity index gained 2.7%, the largest rise among Bloomberg‑tracked
global markets. S&P warned it could downgrade if political turmoil prevents
deficit reduction over the next two years; the three major agencies have so far
avoided cutting Romania to junk this year.
