Posts Tagged 'bulgaria economy'

Bulgaria Bansko Winter Resort Boasts High Credit Rating

Bulgaria’s municipality of Bansko, best known for its winter resort with the same name, has received an A-1 rating by the Bulgarian Credit Rating Agency.

The rating means the municipality is managed well and can cover its own expenses. Bansko has received similar ratings for several years now. The Bulgarian Credit Agency further notes that the municipality’s credit worthiness is good in short-term and long-term perspective and it enjoys high level of trust from creditors.

The Bulgarian Credit Agency is the only one in the country whose assessments are internationally recognized along with those of agencies such as Moody’s and Fitch

The assessment is made based on all economic and demographic indicators, capital expenses, investment, money for education, and public works.

http://www.novinite.com/view_news.php?id=113014

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Moody’s raises Bulgarian outlook to positive

Moody’s outlook on Bulgaria’s Baa3 sovereign rating has been raised from stable to positive. It’s the first positive rating action on an EU sovereign since July 2008. The positive outlook means Moody’s is considering upgrading the Bulgarian sovereign to Baa2. Such an upgrade is contingent upon the country’s ability to renew growth and weather the impact of regional shocks. “Moody’s expects the recession to end in mid-2010, although the problems in Greece will likely dampen the recovery this year,” says Kenneth Orchard, a VP in Moody’s sovereign risk group. About 9 per cent of Bulgarian exports go to Greece, and Greek companies are major investors in the country, particularly the banking sector. “The Bulgarian government’s finances were relatively resilient through the 2008-09 financial crisis,” explained Mr Orchard. “Despite a deep recession, Bulgaria will have very low budget deficits by global standards in 2009 and 2010, keeping government debt ratios low and stable.”

Financial Times January 21, 2010 10:39amby Emma Saunders

http://blogs.ft.com/money-supply/


Welcome to RilaDev’s Blog!

In 2006, RilaDev a English Bulgarian homebuilder embarked on one of the most ambitious hotel and residential project in Bansko, Bulgaria, Pirinea Hotel Spa and Residence.

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Author: Russell Collins - RilaDev

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