The rating is two steps above the one previously granted, putting it at Romania’s rating.

Transgaz published a document stating that the Fitch assigned the company a Long-Term Issuer Default Rating (IDR) of ‘BBB-‘ with a Stable Outlook. This would mean that the rating is two steps above the rating previously granted, putting it at Romania’s rating.

Fitch states that Transgaz’s BBB- rating mainly reflects its solid business profile as a concessionaire and operator of the gas transmission network in Romania as well as the expectation of a progressive contraction of international gas transit business deriving from traditional routes. The rating is supported by the country’s regulation for gas transmission and our expectation that a significant current investment related to the Bulgaria-Romania-Hungary-Austria corridor (BRUA) will be added to Transgaz’s regulated asset base (RAB), supporting future earnings.