Deterioration in Political Situation Could Lower Bulgaria’s Ratings – S&P

Deterioration in Political Situation Could Lower Bulgaria’s Ratings – S&P

Bulgaria's ratings could be pressured downward if the political situation in the country deteriorates, according to an analysis by Standard&Poor's (S&P).

If the current stability-oriented economic policy is threatened, the stable outlook on Bulgaria's credit ratings could be affected, the rating agency said, as quoted by the finance ministry.

Future significant deterioration in external liquidity indicators is also seen as a possible negative influence to the stable outlook. S&P, however, sees the chance of this happening in the next two years as less than one in three.

As the main reasons for Bulgaria's stable outlook, S&P highlighted the fiscal discipline, low and declining budget deficit and public debt as well as the prospects for economic growth.

S&P also said that Bulgaria's has narrowed its external debt to 110% of the country's current account receipts from 193% in 2009.

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