Fitch rates Bulgarian Energy bond BB

Fitch Ratings said it assigned Bulgarian Energy Holding EAD's upcoming bond an expected foreign-currency senior unsecured rating of BB with an RR4 recovery rating.

“The bond's expected rating is in line with BEH's senior unsecured rating, as the bond will constitute direct, unconditional, unsecured and unsubordinated obligations of the company,” the agency said in a press release.

The proceeds are intended for refinancing BEH's €550 million bond maturing in August.

Fitch also affirmed BEH's long-term foreign- and local-currency issuer default ratings and senior unsecured debt at BB/RR4.

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