International rating agency Fitch on July 31 maintained its BBB- sovereign rating with a negative outlook for Romania, but only after the country “appealed and provided additional information to Fitch that resulted in a rating action that is different than the original rating committee outcome.” The nature of the additional information was not disclosed, but the main concern expressed by the rating agency regards the country’s capacity to implement additional fiscal consolidation measures amid political uncertainty and particularly ahead of the 2028 parliamentary elections. Political commitment for further fiscal consolidation remains particularly problematic, Fitch implied. Slower growth in principle amplifies the social cost of fiscal consolidation efforts that a politically divided administration should implement ahead of parliamentary elections. Debt trajectory is also vulnerable to Romanian leu depreciation, as 53% of government debt is FC-denominated, the rating agency warned,iulian@romania-insider.com