Business Services Industry
BULGARIA: FOREIGN CURRENCY COUNTRY CEILINGS.
IPR Strategic Business Information Database, December, 2005
Moody's Investors Service has today placed Bulgaria's Ba1 and Not Prime foreign currency country ceilings as well as the Ba1 foreign and local currency government bond ratings, as well as the Ba1 local currency deposit ceiling on review for possible upgrade. The local currency guideline is unchanged at Aa3.
The review for upgrade has been prompted by the significant improvements that Bulgaria has undergone over the past two years, possibly resulting in a reduction in credit risk to a point where Bulgaria is now a strong candidate for an investment-grade rating. Moody's adds that the country's accession to the EU and ERM2 in 2007-8 should anchor these improvements and provide impetus for a continuation of reforms. Moody's highlights the number of positive...
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