{"id":13441,"date":"2017-12-04T09:21:27","date_gmt":"2017-12-04T09:21:27","guid":{"rendered":"https:\/\/sr-management.bg\/credit-ratings-bulgaria\/"},"modified":"2017-12-04T09:21:27","modified_gmt":"2017-12-04T09:21:27","slug":"credit-ratings-bulgaria","status":"publish","type":"post","link":"https:\/\/sr-management.bg\/es\/credit-ratings-bulgaria\/","title":{"rendered":"Fitch, S&#038;P Global Ratings raise credit ratings for Bulgaria"},"content":{"rendered":"<p class=\"western\"><strong>Fitch Ratings has upgraded Bulgaria\u2019s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to \u2018BBB\u2019 from \u2018BBB<\/strong>-\u2018. The outlooks are stable, the ratings agency said on December 1 2017.<\/p>\n<p class=\"western\">The same day, S&amp;P Global Ratings raised its long- and short-term foreign and local currency sovereign credit ratings on Bulgaria to \u2018BBB-\/A-3\u2019 from \u2018BB+\/B\u2019. At the same time, the agency raised its transfer and convertibility (T&amp;C) assessment to \u2018A-\u2018. The outlook is stable, the agency said.<\/p>\n<p class=\"western\">S&amp;P Global Ratings said that the upgrade reflects <strong>Bulgaria\u2019s improving external metrics<\/strong>, underpinned by a multiyear expansion of exports, amid a rise in domestic savings.<\/p>\n<p class=\"western\">\u201cIn our view,\u00a0the risk of material and abrupt shifts in external financing flows, particularly in foreign direct investment (FDI), has reduced significantly,\u201d\u00a0S&amp;P Global Ratings said.<\/p>\n<p class=\"western\">Fitch, announcing its decision, listed high rating drivers as including a prolonged decline in external debt ratios that had led Bulgaria\u2019s external finance metrics to outperform the majority of its \u2018BBB\u2019 peers.<\/p>\n<p class=\"western\">Including data revisions, Bulgaria\u2019s net external creditor position strengthened to 8.6 per cent of GDP in 2016 from a net debtor position of 2.1 per cent of GDP in 2015, Fitch said.<\/p>\n<p class=\"western\">Bulgaria\u2019s net creditor position is forecast to strengthen further, staying above the \u2018BBB\u2019 median net creditor position of 0.8 per cent of GDP, the agency said.<\/p>\n<p class=\"western\">Current account surpluses averaging 3.4 per cent of GDP are also forecast for 2017-2019, supported by gains in export competitiveness and a diversifying export base. This compares with the \u2018BBB\u2019 median current account deficit of 1.2 per cent of GDP.<\/p>\n<p>Bulgaria\u2019s sovereign external buffer continues to strengthen as reserves climb, the agency said. Foreign reserves represent 49.7 per cent of GDP, equivalent to 10 months of imports.<\/p>\n<p>An external liquidity ratio of 215 per cent (end-2016) provides more than adequate liquidity support for Bulgaria\u2019s long-standing and credible currency board regime, Fitch said.<\/p>\n<p>Source:\u00a0http:\/\/sofiaglobe.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch Ratings has upgraded Bulgaria\u2019s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to \u2018BBB\u2019 from \u2018BBB-\u2018. The outlooks are&#8230;<\/p>\n","protected":false},"author":1,"featured_media":11577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[217],"tags":[485],"class_list":{"0":"post-13441","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sr-blog-bulgaria-news-es","8":"tag-credit-ratings-for-bulgaria-es"},"_links":{"self":[{"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/posts\/13441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/comments?post=13441"}],"version-history":[{"count":0,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/posts\/13441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/media\/11577"}],"wp:attachment":[{"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/media?parent=13441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/categories?post=13441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sr-management.bg\/es\/wp-json\/wp\/v2\/tags?post=13441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}