Moody's raises Bulgaria's sovereign credit rating outlook

Moody's Investors Service raised on 30 August Bulgaria's sovereign credit rating outlook to positive from stable and affirmed the debt grade at 'Baa2', citing as reasons behind the improved outlook strengthening fiscal metrics due to the Bulgarian government's prudent policymaking, and higher growth prospects from ongoing EU integration and Bulgaria's increased competitiveness.

Standard & Poor's credit rating for Bulgaria stands at BBB- with positive outlook. Fitch's credit rating for Bulgaria was last reported at BBB with positive outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Bulgaria thus having a big impact on the country's borrowing costs.

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