Moody's completes periodic review of Bulgaria's ratings

Moody's completes periodic review of Bulgaria's ratings

Moody's Investors Service said that it completed a periodic review of the ratings of Bulgaria's government, which did not involve a rating committee.

The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of Bulgaria's ratings, and a comparison of the financial and operating profile to similarly rated peers, Moody's said in a statement last week.

The publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Moody's also said in its statement:

"Bulgaria's Baa1 government bond rating reflects a "baa3" economic strength, balancing the relatively low size of the economy and lower wealth per capita (vs the EU average) and the clear improvement trend of the country's ranking in the World Economic Forum Global Competitiveness Index ; "baa1" institutions and governance strength, reflecting enhanced policy effectiveness confirmed by the country's accession to the Exchange Rate Mechanism (II) in July 2020 against credit challenges in the areas of fight against corruption; "aa3" fiscal strength, mirroring healthy public finances despite the coronavirus outbreak and a clear commitment to the stability of the currency board arrangement in order to join the euro area; and "ba" susceptibility to event risk assessment, driven by the country's banking system risks although recent developments point to higher liquidity and a stronger capitalization."

SEARCH

[%EVENTS_SIDEBAR%]
Previous Next
Close
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.