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S&P Global Ratings has revised Bulgaria’s sovereign credit rating outlook to stable from positive and affirmed the debt grade at "BBB", according to a press statement put out by the agency.
S&P Global cited a significant deterioration of growth prospects for Bulgaria and other economies in 2020, mainly related to measures to contain the COVID-19 pandemic, as the main reason behind the change.
Moody’s credit rating for Bulgaria was last set at "Baa2" with a positive outlook. Fitch’s credit rating for Bulgaria was last reported at "BBB" with a stable outlook.