Fitch Affirms Bulgarian Development Bank at 'BBB'; Outlook Stable

Fitch Affirms Bulgarian Development Bank at 'BBB'; Outlook Stable

Fitch Ratings said on Thursday that it has affirmed state-owned Bulgarian Development Bank's (BDB) Long-Term Issuer Default Rating (IDR) and Support Rating Floor (SRF) at 'BBB', as well as its Short-Term IDR at 'F2' and Support Rating (SR) at '2'. The affirmation reflects the lack of major changes regarding the agency's assessment of the Bulgarian sovereign's propensity or ability to support the bank, Fitch Ratings said in a statement. Fitch Ratings also said in its statement:"KEY RATING DRIVERS  IDRS, SR, SRFBDB's IDRs and SRF are equalised with those of the Bulgarian sovereign (BBB/Stable). The bank's SR of '2' reflects Fitch's belief of a high probability of support from the Bulgarian sovereign, in case of need. The state's strong economic incentive to support BDB is mainly driven by its almost 100% ownership of the bank and significant funding from (or guaranteed by) the state. Our view also considers the bank's role in supporting the government's economic policy. The Stable Outlook mirrors that on the Bulgarian sovereign.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.