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News
| Bulgarian Development Bank Gets Higher Credit Ratings |
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Wednesday, Jan 14, 2009 |
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The Bulgarian Credit Rating Agency in cooperation with Moody's associate ICRA have raised the credit rating of the Bulgarian Development Bank (BDB) from BB+ to BBB- with a stable perspective.
According to the Bulgarian Credit Rating Agency, the BDB has a high level of capitalization, high efficiency, and a good level of financial security.
The new rating of the BDB takes into account the specific activity of the bank. The BDB was set up in 2008 by the Bulgarian Parliament with a special Act transforming the state-owned Encouragement Bank, which was created in 1999.
The purpose of the Development Bank is to improve, stimulate, and develop the total exports and technological potential of the small and medium-sized businesses, to assist them in their activity, and to enhance their access to funding.
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Source:
Sofia News Agency
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