Manea, RBS: We desperately need a better sovereign rating

The only investors showing interest in Romania currently are hedge funds and companies of small economies, as the sovereign rating assigned by two of the three largest international agencies is in the “speculative grade” category, says Magdalena Manea, corporate vice-president with RBS Romania.
“The Government’s first mission would be re-entering the investment grade category. But this would entail multiannual budgetary plans, public expenses centred on projects with a high degree of multiplication in the economy and consistency of fiscal measures. Uncertainty is the clearest way to failure,” says Manea, who came at the helm of the corporate segment at RBS Bank after Roxana Moldovan withdrew.
“If we do not improve our sovereign rating, we will attract only hedge funds and investors of small countries, which are faring slightly better than us. We will not see any investors of France or Germany, which should bring know-how and accurate corporate governance principles. I desperately need a better sovereign rating so I can build a different profile of the Romanian customer,” Manea states.