S&P: Bulgaria view now positive

S&P said it revised its outlook on the Republic of Bulgaria to positive from stable and affirmed its BB+/B long- and short-term foreign and local currency sovereign credit ratings.

“The outlook revision reflects our expectation that Bulgaria's fiscal and external metrics will continue to improve, and that the authorities will take further steps to strengthen Bulgaria's financial sector, where the gross level of nonperforming loans, at 13% of total financial sector claims, remains considerable,” S&P said in a news release.

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