Coface Cuts Bulgaria Credit Rating

The construction sector in Bulgaria has been one of the worst-hit by the global financial crisis, Coface analyses show. Photo by BGNES

Coface, the international company for credit risk management, said it has revised downwards Bulgaria's credit rating from A4 to B.

The agency cited the increased business risk in the country, which makes Bulgaria one of 47 counties with reduced credit rating due to the impact of the global financial crisis.

"Bulgaria is expectedly among the countries with reduced credit rating due its increased vulnerability to the external economic shock," Kameliya Popova, Chief Executive of Coface Bulgaria, said. 

The construction and agriculture sectors are the worst-hit by the crisis, Coface analyses show.

 

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