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Bulgaria-Based Bulbank L-T Rating Raised To 'BBB+'; 'A-2' S-T Rating Affirmed; Outlook Stable Oct 06
Standard & Poors, Oct 2006
Abstract
LONDON (Standard & Poor's) Oct. 26, 2006--Standard & Poor's Ratings Services said today that it raised its long-term counterparty credit rating on Bulgaria-based Bulbank A.D. (Bulbank) to 'BBB+' from 'BBB'. At the same time, the 'A-2' short-term rating was affirmed. The outlook is stable. The rating action follows the foreign currency upgrade of the Republic of Bulgaria to 'BBB+/A-2' from 'BBB/A-3'. (For more information, see 'Bulgaria's FC Ratings Raised To 'BBB+/A-2' On Fiscal Discipline And EU Entry; Outlook Stable,' published on Oct. 26, 2006, on RatingsDirect.) The foreign currency upgrade of Bulgaria reflects the continued reduction in the public debt burden; robust growth prospects; and impending EU entry. Membership of the EU will underpin further economic and institutional modernization, and...
Companies mentioned in this report are: UniCredit Bulbank AD,UniCredit SpA,UniCredit Bank AG
Action: Affirmed
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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