Fitch Ratings Confirms Bulgarian Development Bank Credit Rating at ‘BBB+’ with Stable Outlook

The international rating agency Fitch Ratings has confirmed the long-term credit rating of the Bulgarian Development Bank (BDB) at “BBB+” with a stable outlook, as well as its short-term rating of “F1.”

After having upgraded BDB’s rating to this level in July, Fitch now reconfirms it, citing the bank’s stable financial position.

The rating of BDB remains in line with that of the Republic of Bulgaria, which was upgraded following the country’s decision to join the Eurozone.

In its report, Fitch highlights the strengthened role of the Bulgarian Development Bank as a key source of financing for small and medium-sized enterprises, as well as its involvement in projects prioritised for the national economy, in accordance with BDB’s 2024–2026 strategy.

The agency also notes the bank’s stabilised profits over the past three years and its strong capital position.

Fitch expects the share of state-guaranteed financing provided by BDB in support of business to increase during 2025–2026, further enhancing its ability to foster sustainable economic development in Bulgaria.