Moody's confirmed the Credit Rating of Bulgaria and Predicts Postponement of the Euro
Moody's confirmed Bulgaria's long-term rating in foreign and local currency Baa1 with a stable outlook, reports the Ministry of Finance
Moody's Investors Service has placed on review for possible downgrade ratings of two Bulgarian financial institutions: DSK Bank AD and First Investment Bank Ltd.
With regards to DSK Bank, Moody's downgraded the bank's long-term local currency deposit rating to Baa2 from Baa1 due to the downgrade of its parent bank's (OTP Bank of Hungary) ratings. The bank has been placed on review for further downgrade.
It also placed the D+ bank financial strength rating (BFSR, which maps to a Ba1 baseline credit assessment -- BCA) and the Prime-2 short-term ratings on review for possible downgrade. The Baa3/Prime-3 foreign currency deposit ratings were not affected by this action.
Moody's placed on review for possible downgrade the D bank financial strength rating of First Investment Bank, Ba1 long-term local and foreign currency deposit ratings, as well as the Ba1 and Ba2 ratings for senior and subordinated debt assigned to its EMTN programme.
"We expect that, the weakened economic conditions in Bulgaria will have an impact on the banks' financial fundamentals, particularly their credit quality, earnings generation and capital levels," says Elena Panayiotou, Moody's lead analyst for the banks.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022