Fitch Ratings affirms Bulgaria's credit rating at BBB+ with stable outlook

Fitch Ratings has affirmed Bulgaria’s Long-Term Foreign Currency Issuer Default Rating at “BBB+” with a stable outlook. The rating reflects strong external and public finance balance sheets and a credible policy framework underpinned by membership in the EU and the eurozone, the agency said, BTA reports.

This is counterbalanced by institutional capacity that has weakened in recent years, reflecting unstable coalition governments and frequent elections that have hindered progress in reform implementation, high perception of corruption, and per-capita income that is likely to remain low relative to higher-rated peers at current growth rates, the credit rating agency said. The stable outlook reflects Fitch’s expectation that renewed domestic political uncertainty and external geopolitical risks will not derail Bulgaria’s solid economic growth, nor lead to a build-up of macroeconomic, fiscal or external imbalances.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov