Fitch might lift Bulgarian Energy

Fitch Ratings said it placed Bulgarian Energy Holding EAD's long-term foreign- and local-currency issuer default ratings and foreign currency senior unsecured rating of BB- on rating watch positive.

The action follows the Nov. 27 publication of Fitch's new proposed criteria as an Exposure Draft (ED) and Dec. 1 upgrade of Bulgaria's long-term foreign- and local-currency issuer default ratings to BBB/stable from BBB-/positive.

Fitch said it plans to resolve the positive watch within the next six months upon finalization of the ED period and reassessment of the company's links with the Bulgarian state and Bulgarian Energy’s standalone credit profile.

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