Moody's: Bulgaria’s credit perspective is positive
Bulgaria’s credit perspective is positive, say Moody’s Investors Service. This is due to the resilient growth and further fiscal tightening. Moody’s credit outlook analysts Kristin Lindow and Renzo Merino point out that the tight fiscal policy stance of the Bulgarian government led to the country having the only sovereign rating upgrade in the European Union since the global crisis began in 2007.
“Continued positive growth, as well as fiscal consolidation measures, will help Bulgaria remain one of the very few low debt countries in Europe,” the analysts said.
In July Moody’s raised Bulgaria’s rating to Baa2, the second-lowest investment grade.
Earlier Moody’s confirmed it will most probably review its assessments of the Eurozone and EU countries in the first quarter of 2012 due to the lack of undertaken measures for tackling the crisis. At the summit last week the member states agreed on setting up a tax and budget union but they failed to agree on the issuing of Eurobonds.
Moody’s also point out that the Eurozone continues to be under threat.
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