The American Credit Rating Agency S&P Global Ratings (previously Standard & Poor’s) has confirmed the long-term and short-term foreign and local currency sovereign credit ratings on Bulgaria at 'BBB/A-2' and revised the country’s outlook from positive to stable.
The revision is related to expectations for significant deterioration of growth in Bulgaria and in other countries in 2020 as a result of the measures adopted to contain the Covid-19 pandemic. However, given the significant contraction of the country’s macroeconomic imbalances, S&P Global Ratings expects the Bulgarian economy to recover in 2021.
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