Coming into force of changes to the Sovereign Rating Methodology

Date created: 08-Nov-2019

On 4th November 2019, expired the one-month period for public consultations on the changes in the Sovereign Rating Methodology. During the consultation period, comments haven’t been received. The proposed changes come into force on 11th November 2019.

The main changes in the Sovereign Rating Methodology aim to achieve greater transparency by providing clearer and more detailed information about BCRA’s analytical approach. The analysis continues conditionally to be divided into four sections, however, their names and subsections have been slightly modified. Some terminological clarifications and modifications also are made. These changes generally do not affect the underlying assumptions or key rating criteria of the previous methodology. The executed calculations (internal tests) showed that the above-mentioned amendments are not leading to changes in the state ratings assigned by BCRA.

The updated methodology is available here:
https://www.bcra-bg.com/files/Sovereign_Methodology_2019_en.pdf