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Fitch affirms Bulgaria’s credit rating at “BBB”

Photo: EPA/BGNES

Fitch Ratings has revised the outlook on Bulgaria's long-term foreign-currency issuer default rating (IDR) to stable from positive and affirmed the rating at “BBB”, because of the coronavirus pandemic.

This is the rating agency’s first evaluation since the beginning of the pandemic. According to Fitch, this year Bulgaria’s GDP will drop from 3.2 % to minus 5.1 %, but will recover next year to reach an increase of 4.2%.



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