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Standard & Poor Raise The Foreign Currency Credit Rating Of Bulgaria To BBB+

Standard & Poor has raised the foreign currency sovereign credit rating of Bulgaria from BBB to BBB+. The rationale behind this decision is a decline in public debt, growth prospects, and impending European Union entry. "The outlook on the foreign

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Standard & Poor has raised the foreign currency sovereign credit rating of Bulgaria from BBB to BBB+. The rationale behind this decision is a decline in public debt, growth prospects, and impending European Union entry.

“The outlook on the foreign sovereign credit rating is stable for Bulgaria, which is due to join the EU on 1 January 2007, and we can confirm the local currency sovereign credit rating of BBB+,” says a spokesman from Standard & Poor. “Bulgaria aims to join the ERM-2 shortly after joining the EU and the current plans see it happening at the beginning of 2010.”

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