Fitch confirmed Bulgaria's Long-Term Credit Rating in Foreign and Local Currency
The international rating agency Fitch confirmed the long-term credit rating of Bulgaria in foreign and local currency 'BBB' with a positive outlook
Bulgaria’s Finance Ministry Boasts about Success of Newly Issued Bonds on Secondary Market
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Bulgaria's Finance Ministry HQ, photo by BGNES
The three bonds newly issued under Bulgaria’s Global medium-term programme have performed extremely well on the secondary market.
According to data of the business platform of Bloomberg (Bloomberg Fixed Income Trading Active Bonds), these bonds were the best traded in terms of volume EUR-denominated sovereign securities issued on the international capital markets in the period from March 19, 2015, when the subscription process started, to April 7, 2015.
The good performance of the newly issued bonds on the secondary market shows investors' confidence in the public finance policy pursued by the government, according to Bulgaria’s Finance Ministry.
Indicative of the successful placement of the triple tranche is also the fact that on March 24, 2015 credit rating agency Fitch awarded a "BBB" rating to the three bonds, one level up from the sovereign rating of Bulgaria (BBB-).
The credit ratings awarded by Moody's and Standard and Poor's to the new bonds are identical to the sovereign ratings awarded to Bulgaria by them.
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