Fitch Revises Romgaz Rating Outlook to Negative, Confirms BBB- Rating
Fitch Ratings has downgraded the outlook for Romgaz from stable to negative while reaffirming its BBB- long-term debt rating, the natural gas company reported Tuesday to the Bucharest Stock Exchange, CE Report quotes Agerpres
This revision follows the December 17, 2024, downgrade of Romania’s sovereign rating outlook from stable to negative, which directly impacts Romgaz’s rating outlook.
Fitch highlighted Romgaz’s dominant role in Romania’s natural gas market, potential production growth from Neptun Deep and Caragele developments, and its conservative financial strategy.
Romgaz first received its Fitch rating on May 21, 2024, with the current update provided to the capital market the following day.
Recently, Fitch also revised Nuclearelectrica’s outlook from stable to negative, maintaining its BBB- long-term issuer default rating.
