Fitch revises Bulgarian Energy Holding s outlook to positive Fitch (Author: fitchratings.com) License: all rights reserved.
SOFIA (Bulgaria), March 1 (SeeNews) - Fitch Ratings said that it has revised the outlook on Bulgarian Energy Holding s (BEH) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to positive from stable and affirmed them at BB .
The revision of the outlook was driven by the recent revision of the outlook on Bulgaria s IDR to positive from stable, Fitch said in a statement on Friday.
Fitch also affirmed BEH s senior unsecured rating at BB- .
The ratings agency also said in its statement: KEY RATING DRIVERS
Greece and Bulgaria advanced the development of three natural gas projects this week that will lessen the two countries’ dependence on Russian gas.
Greece’s parliament ratified on January 26 a cooperation agreement on the Interconnector Greece-Bulgaria (IGB) pipeline and the foundation treaty of the EastMed Gas Forum (EMGF) while two days later Bulgaria’s state gas company Bulgartransgaz finalised a deal to take 20% of Greek company Gastrade, which is developing the Alexandroupolis foating LNG receiving, storage and regasification unit (FSRU). Greece’s Public Gas Corporation DEPA and GasLog also hold 20% stakes in the LNG facility which is expected to begin operating in 2023.
Fitch affirms Bulgarian Energy Holding at BB , outlook stable Fitch (Author: fitchratings.com) License: all rights reserved.
SOFIA (Bulgaria), December 23 (SeeNews) - Fitch Ratings said that it has affirmed the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of Bulgarian Energy Holding (BEH) at BB with a stable outlook.
Fitch has also affirmed BEH s senior unsecured debt, including 550 million euro ($670.4 million) and 600 million euro bonds at BB- , the ratings agency said in a statement on Tuesday.
BEH s IDR reflects the group s standalone credit profile (SCP) of b+ , which is notched up twice for strong links with its sole owner, the Bulgarian state (BBB/Stable) to arrive at the BB IDR, Fitch also said.
Moody s affirms Bulgarian Energy Holding s Ba1/Ba2 ratings, outlook stable Source: The Institute of Financial Services Practitioners
SOFIA (Bulgaria), December 15 (SeeNews) - Moody s Investors Service said that it has affirmed state-owned Bulgarian Energy Holding s (BEH) long-term corporate family rating of Ba1, the probability of default rating of Ba1-PD, and the senior unsecured debt ratings of Ba2.
The outlook on the ratings remains stable, Moody s Investors Service said in a statement last week.
Moody s Investors Service also said in its statement: RATINGS RATIONALE
The rating action reflects Moody s view that BEH s standalone credit profile, expressed as a Baseline Credit Assessment (BCA) of b1, is benefitting from Bulgaria s migration to liberalized electricity and gas markets, given the group s favourable electricity generation profile and dominant position as gas supplier. Planned investments, primarily in gas infrastructure, will weaken BEH s lev