The credit ratings agency Standard & Poor"s has downgraded the EU bailout fund to AA+ from AAA in what has been described as another ax swing at Europe.The move was largely expected after S&P downgraded nine euro area governments last week, including France and Austria, two big backers of the European Financial Stability Facility.Like France and Austria, the EFSF is now rated AA+, accordin...
Bulgarian banks will shift the market from foreign capital banks, and will push the latter out, according to estimates of UniCredit Bulbank.Banks with Bulgarian capital would have greater and greater influence, while treasuries with foreign participation, which in 2009 secured 84% market share in assets, then conceded to 77% in 2011, will shrink to 75% this year, UniCredit Bulbank, which is owned...
An investment firm led by Tsvetelina Borislavova has increased its majority stake in Bulgarian-American Credit Bank (BACB) following the public offering of its shares.The businesswoman"s Clever Synergies Investment Fund (CSIF) announced it now owns 61.43% in the bank.Borislavova, known also as the long-time, but no longer live-in girlfriend of the Balkan country"s prime minister, Boyko Borisov, ha...
Global rating agency Standard & Poor"s has decided to downgrade France"s top-notch credit rating but will spare Germany, Belgium, Luxembourg and the Netherlands, an EU government source said on Friday."France loses its triple-A rating," the source said on condition of anonymity, as cited by The Economic Times.France was along with Germany, Luxembourg and the Netherlands among the six eurozone...
Bulgarian sovereign credit default swaps spreads widened less than the Greek and Romanian in the fourth quarter of last year, according to data from credit information specialist CMA.This has sent Bulgaria in the twentieth position in the most risky sovereign credit ranking, which includes 68 countries.Greece, Slovenia and Egypt had the worst-performing sovereign credit during the fourth quarter o...
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