Standard & Poor's upgrade Bulgaria's long-term and short-term credit rating

Photo: BGNES

Prime Minister Boyko Borissov told reporters that Standard & Poor's assessment of Bulgaria was a response to the criticism of the government. The international rating agency S&P Global Ratings has upgraded Bulgaria's long-term and short-term foreign currency and local currency credit ratings from 'BBB/A-2' to 'BBB-/A-3'. According to the Agency's assessment, Bulgaria has sustainable economic development without macroeconomic imbalances, and the outlook for the rating is positive. With this increase, we reach the highest credit rating on the Balkan Peninsula, outperforming countries such as Romania, Greece, Turkey, and Russia, and have a comparable rating, but better in terms of prospects than Hungary, said Finance Minister Vladislav Goranov.

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