Fitch Ratings has affirmed the BBB- Long-Term Issuer Default Rating (IDR) with a negative outlook for the Romania-based Romgaz (BVB: SNG) \u2013 including a one-notch uplift from its bb+ Standalone Credit Profile (SCP) for state support, under our Government-Related Entities Rating Criteria.<\/p>\n
The SCP reflects Romgaz’s dominant position in Romania’s natural gas market, upstream production growth potential from Neptun Deep and Caragele developments, and a conservative financial policy.\u00a0<\/p>\n
Key rating constraints include its modest production scale, lack of geographic diversification, aging legacy gas assets, and large capex.<\/p>\n
The company’s rating is constrained by the sovereign rating.<\/p>\n
Material improvement of the business profile (through diversification or a much larger scale through material upstream production increase), alongside a still conservative financial profile, may be positive for the SCP, but not necessarily the IDR.<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source: Inquam Photos\/Adel Al-Haddad)<\/em><\/p>","protected":false},"excerpt":{"rendered":" Fitch Ratings has affirmed the BBB- Long-Term Issuer Default Rating (IDR) with a negative outlook for the Romania-based Romgaz (BVB: SNG) \u2013 including a one-notch uplift from its bb+ Standalone Credit Profile (SCP) for state support, under our Government-Related Entities Rating Criteria. The SCP reflects Romgaz’s dominant position in Romania’s natural gas market, upstream production […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8782","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8782"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8782\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}