JCR Confirmed Bulgaria’s Credit Rating

JCR Confirmed Bulgaria’s Credit Rating
Ñíèìêà: financebg.com The Ministry of Finance has reduced the foreign debts, but risks still remain

Outlooks re kept negative owing to the large current account deficit, foreign debt financing remains vulnerable, and economy decline is expected at some 5%

 Bulgaria News | 24.07.2009 16:41

Japan’s credit rating agency JCR has affirmed its BBB rating on the foreign currency long-term senior debts and its BBB+ rating on the local currency long-term senior debts of the Republic of Bulgaria, the Ministry of Finance informed. The outlook of the ratings has been kept negative. The ratings are based on Bulgaria's solid fiscal structure underpinned by a continued fiscal surplus and the substantial reduction of the government debt, its maintenance of the solid currency board arrangement through collaboration between the government and the BNB, and its expanding production capacity rendered by robust investments amid massive inflows of foreign direct investment (FDI) and EU subsidies.

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