The revision of the Outlook follows a recent similar action on the sovereign rating of Romania, dated December 17, 2024. Thus, the revision of Romania’s sovereign Rating Outlook from ‘Stable’ to ‘Negative’ determines the similar revision of ROMGAZ’s IDR.
Fitch’s Rating Action Commentary reiterated that the Rating “reflects Romgaz’s dominant position in Romania’s natural gas market, upstream production growth potential from the Neptun Deep and Caragele reservoir developments and a conservative financial policy.”
Fitch assigned the first Rating to Romgaz on May 21, 2024.