Romania: Transgaz’ BBB- rating reaffirms

, SEE Energy News

With a stable outlook of Transgaz, a Romanian natural gas transmission system operator, Rating agency Fitch said that it has affirmed BBB- long-term issuer default rating (IDR).

The statement from the agency said that BBB- IDR mainly reflects the company’s solid business profile as a concessionaire and operator of the gas transmission network in Romania as well as our expectation of a progressive contraction of its international gas transit business derived from traditional routes.

The rating is supported by Romania’s regulation for gas transmission and Fitch’s expectation that a significant current investment related to the Bulgaria-Romania-Hungary-Austria (BRHA) gas pipeline will be added to Transgaz’ regulated asset base (RAB), supporting future earnings.