Bulgaria: Moodys upgrades Bulgarias rating to Baa2
Officials from Moody's Investors Service motivated the upgrade of Bulgarias government debt ratings to Baa2 from Baa3 with three arguments:
- effective fiscal consolidation supplements,
- strengthened institutional capacity, and
- strong liquidity and capital buffers of both the financial system and the government.
The upgrade comes 4 months after their initial announcement for this action. According to Moodys, the rating outlook is stable.
Details on the ratings rationale are available here.