Fitch raises Bulgaria’s credit rating to BBB. S&P upgrades accordingly to BBB-/A-3
Bulgaria is getting another credit rating boost by the major credit rating agencies. At the moment when Standard & Poor’s assigned BBB- to Bulgaria, the other major agency Fitch, also increased its assessment of Bulgaria to BBB.
The new credit ratings are extremely important recognition for the Balkan country, as the new grades are considered to be ‘investment grade’, meaning that many international institutional investors will redirect part of their portfolios to Bulgaria.
The latest rating boost will provide additional benefits to the participants in the Bulgarian fast-track Citizenship Program. By investing in Bulgarian sovereign paper, the citizenship candidates can rest assured that their investment is not only extremely safe, but can be also used as collateral with virtually any financial institution worldwide to raise additional capital (if the need arises). For comparison Cyprus, the other EU country that provides fast-track citizenship, is far from having ‘investment grade’ rating, thereby making any investments in its economy, much more risky.