FINANCE MINISTER MET STANDART& POOR REPS

Business | September 25, 2001, Tuesday // 00:00

The Bulgarian Finance Minister Milen Velchev met representatives of the Standard&Poor`s rating agency for an overall review of the economic situation in Bulgaria. Velchev presented the tax code and budget policy of the government and talked about the external debt management strategy. The Standard&Poor`s representatives were interested in the progress of the talks with the International Monetary Fund. Standard&Poor`s is the third rating agency that visits Bulgaria after the new government took office on July 24 this year. During the past month, Velchev met with representatives of FITCH-IBCA and R&A Credit Rating Division International Group. Bulgaria was rated by Standard&Poor`s (B+ with positive outlook), FITCH-IBCA (B+ with positive outlook) and Moody`s. The rating of the Moody`s agency is lower that the rating of the first two agencies.

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