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Bulgaria’s credit ratings confirmed

21. December, 2011

On December 21, the long- and short-term foreign- and local-currency sovereign credit ratings on the Republic of Bulgaria were affirmed by Standard & Poor’s Ratings Services at ‘BBB/A-3′. The outlook is stable. The transfer and convertibility (T&C) assessment is ‘A’.

Mr. Simeon Dyankov the Finance Minister of Bulgaria believes that the country’s credit ratings might be increased, if the Government steps up its structural reforms, including those of the pension and railway systems.

Bulgarian PM Boyko Borisov, expresses hope all parties represented in Parliament would support the Financial Stability Pact and said the move would be a success for all parties.