site.btaScope Ratings Upgrade Bulgaria's Credit Ratings to A-, Revise Outlook to Stable

Scope Ratings GmbH (Scope) has upgraded Bulgaria’s long-term issuer and senior unsecured debt ratings to A- from BBB+ in local and foreign currency, and revised the Outlooks to Stable from Positive. This is the first time this country has received a rating in the high investment-grade category, the Finance Ministry said on Saturday. 

According to Scope, euro area accession will strengthen Bulgaria’s credit profile via improvements across multiple rating-relevant areas, including via eliminating foreign-exchange risk in the economy, improving monetary policy flexibility, and enhancing access to deep euro area capital markets. Accession will furthermore provide domestic banks with access to ECB facilities and the sovereign access to the European Stability Mechanism (AAA/Stable), supporting financial stability and lowering financing costs for both public and private sectors.

Scope expects Bulgaria’s medium-term economic outlook to be supported by continued EU fund inflows and euro area membership. Real GDP is projected to grow by 2.6% in 2025 and 2.9% in 2026, after 2.8% in 2024. The growth trajectory is underpinned by substantial EU funding.

Over the medium term, euro area accession is also expected to bolster foreign direct investment and deepen trade integration with other euro area countries, further reinforcing a favourable macro-economic outlook, Scope Ratings said.