Fitch revises Bulgaria view to stable

Fitch Ratings said it revised the outlook on Bulgaria's long-term foreign-currency issuer default rating to stable from positive and affirmed the rating at BBB.

Fitch revised its real GDP growth forecast for Bulgaria to -5.1% in 2020 (previous review: +3.2%, current peer median: -3.1%), reflecting the effect of an ongoing lockdown in response to the Covid-19 pandemic on economic activity, the agency said.

Bulgaria imposed a state of emergency, which unless extended, ends May 13.

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