Summary: Bulgaria (Republic of) Aug 11

Standard & Poors, August 2011

Abstract
The ratings on the Republic of Bulgaria reflect Standard & Poor's Ratings Services' view of: the government's strong track record of appropriate fiscal policy and low gross debt, despite the severe recession; and the country's solid growth prospects in the medium term, particularly if they are backed by improving absorption of EU funds and other benefits stemming from EU membership. Somewhat offsetting these strengths are: relatively low GDP per capita; and large, albeit correcting, external imbalances and related risks, given the adverse economic backdrop. After a 5% contraction in GDP in 2009 and 0.2% growth in 2010, we expect the economy to grow by almost 3% in 2011, mainly on the back of strong export performance. Continuously weak domestic demand...

Companies mentioned in this report are:
- Bulgaria (Republic of)
- Hungary
- Romania
- Latvia (Republic of)
- Croatia (Republic of)
- Lithuania (Republic of)
- Serbia (Republic of)

Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Bulgaria (Republic of)
- Hungary
- Romania
- Latvia (Republic of)
- Croatia (Republic of)
- Lithuania (Republic of)
- Serbia (Republic of)

Customers who bought this item also bought

• The European University Libraries Directory 2013
• The European Foundations Directory 2013
• Border Security Market Assessment-EU Accession States
• International Country Risk Guide Annual
• Critical Infrastructure Security Market Assessment EU-Accession
• The EU Defence Market: Industry and National Procurement
• International Military and Civilian Unmanned Aerial Vehicle Survey
• Airport Passenger Screening Market Assessment EU-Accession States
• Bulgaria Defence and Security Report Q3 2012
• European Manned Guarding Market