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Fitch revises Bulgaria's outlook to positive, affirms 'BBB' rating


Fitch revises Bulgaria s outlook to positive, affirms BBB rating
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SOFIA (Bulgaria), February 22 (SeeNews) - Fitch Ratings said that it has revised the outlook on Bulgaria s Long-Term Foreign-Currency Issuer Default Rating (IDR) to positive from stable and affirmed the IDR at BBB .
The change in Bulgaria s rating outlook reflects the improved GDP estimate for 2020 and the expected substantial funding for investment from the EU, which dissipates short-term downside risks tied to the coronavirus pandemic, the ratings agency said in a statement on Friday.
Fitch Ratings also said:
MEDIUM
Bulgaria s Positive Outlook reflects the dissipation of macroeconomic risks stemming from the Covid-19 pandemic, underpinned by a more resilient economy and a sound policy framework, as well as continued gradual progress towards euro adoption. In Fitch s view, short-term downside risks tied to the coronavirus pandemic and an uncertai ....

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