Wednesday May 31 2017
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: Bulgaria
Moody’s Investors Service, (Moody’s) has on 26th May 2017, affirmed Government of Bulgaria’s Baa2 long term issuer rating, the Baa2 senior unsecured rating and the (P)Baa2 long term senior unsecured MTN program rating. The outlook remains stable.
The affirmation of the rating with stable outlook balances the following key rating factors:
- Bulgaria’s resilient economy and robust medium-term growth prospects, supported by predictable macroeconomic policies.
- The government’s strong balance sheet with a low and declining debt level as well as sizeable fiscal reserves.
- Bulgaria’s structural challenges, including adverse demographic developments and a pronounced skill mismatch.
Bulgaria’s long-term local currency bond and deposit ceilings remain unchanged at A3, and the foreign currency bond and deposit ceilings remain also unchanged at A3 and Baa2, respectively. The short-term foreign currency bond and deposit ceilings are also unaffected by this rating action and remain at Prime-2.
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