S&P Raises Bulgaria's Rating

Standard&Poor's has raised Bulgaria's long-term sovereign rating from BBB- to BBB+, finance minister Simeon Dyankov said. According to the international rating agency, the government is coping well with the situation in the country and that is the reason for the revision. In 2010 Bulgaria is expected to have the smallest deficit among EU countries, Dyankov added.

The higher rating is our biggest prize, the finance minister pointed out. For four months we have managed to balance the budget in October 2009, starting from a BGN600m gap.