15.10.2020 Fitch reaffirms BBB's "BBB" rating with a solid outlook

The international rating agency Fitch Ratings confirmed the long-term credit rating of the Bulgarian Development Bank "BBB" with a stable outlook. All other ratings of the bank have been confirmed.

This level is equal to the rating agency's rating for the Republic of Bulgaria and is practically the highest possible credit rating for the National Development Bank.

The assessment of the rating agency is based on two factors: on the one hand the very good financial condition of BDB, and on the other - the opportunities for support of the bank by its owner - the Bulgarian state. In its report, the rating agency acknowledged the role of BDB in the implementation of the country's economic policy, including overcoming the consequences of the Covid-19 pandemic.

The factors that can lead to a change in the rating are also considered. An increase or decrease could be a consequence of a change in the rating of Bulgaria or the assessment of the state's tendency to support the bank. The rating agency has explicitly stated that a possible decline due to deteriorating BDB performance is not its main scenario.

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