Fitch Ratings affirms Bulgaria’s rating and raises outlook to positive - BGNES

Fitch Ratings has affirmed Bulgaria’s sovereign credit rating at “BBB+” and revised the outlook to positive from stable. The positive outlook reflects reduced political uncertainty following the formation of a government supported by a single-party parliamentary majority. The rating agency views this as an opportunity to advance structural reforms aimed at supporting potential growth, improving prosperity and strengthening public-sector governance, building on Bulgaria’s accession to the eurozone. The analysis notes that the current rating is supported by the benefits of eurozone and European Union membership, as well as by the country’s sound public finances and external balance-sheet indicators.