The Fitch rating agency has revised the outlook for the rating granted to Romgaz from stable to negative and confirmed the BBB- rating for the long-term debt, informs the natural gas company through a report submitted on Tuesday to the Bucharest Stock Exchange.
The revision of Romgaz's rating outlook follows the recent revision of Romania's sovereign rating outlook on December 17, 2024.
"Thus, the revision of Romania's sovereign rating outlook from stable to negative determines the similar revision of the Romgaz's rating outlook", the report states.According to the quoted source, the report issued by Fitch reiterated that the rating "reflects the dominant position of Romgaz in the natural gas market in Romania, the potential for increased production as a result of the development of the Neptun Deep and Caragele perimeters and the conservative financial policy".
The first rating was assigned to the company by Fitch on May 21, 2024, being the subject of the current report sent to the capital market on May 22, 2024, Agerpres informs.