Standard & Poor's Ratings Services said on Tuesday it had revised its outlook on the Republic of Bulgaria to stable from negative. The 'BBB' long-term and 'A-3' short-term sovereign credit ratings were affirmed.
"The stable outlook reflects our view of the government's commitment to fiscal discipline. We believe this is likely to be demonstrated by the full implementation of the budgetary plan and supplementary deficit-reducing measures, should the current downturn lead to stronger budgetary pressure than what is currently foreseen," Standard & Poor's credit analyst Marko Mrsnik said.
"The outlook also hinges on our expectation that the government will implement structural reforms in the social security system, particularly in health care, despite the adverse economic environment."...
" Ummm, were those S&P guys smoking something, partaking of carnal offerings or forced to alter the ratings at gunpoint? ;-)"
None of the above. It's just that everyone else is so much worse by comparison. They must be grading on a curve. Those who destroyed the least wealth are rated the highest.
50% more Chinese Tourists in Bulgaria
Potentially Defective Aluminum was used by All Car Manufacturers in Japan