Bulgaria's Alfa Finance Holding Gets First-time Domestic Credit Ratings

"The long-term credit rating of Alfa Finance Holding AD is bgA2, and the short-term credit rating is bgP-2. The outlook is stable," NCRA said in a statement on Thursday.

“The credit rating of the Holding is supported by the business portfolio diversification, the high credit quality of its main subsidiaries – Kaolin and Financia Group, and the leading position of the Holding in real estate investment and management in Bulgaria,” the statement said.

The stable outlook reflects NCRA opinion that there are no factors, expected to trigger a change in the credit rating of the company in the medium term. The liquidity assessment of the company shows very good capacity to fulfil its short-term obligations, it added.

Alfa Finance Holding (www.alfafinance.bg) provides financial services in Bulgaria and neighbouring Macedonia. It is also active in real estate management, transport and mining. Through its majority-owned mineral extracting and processing company Kaolin, the group is active in Serbia, Albania, Romania, Turkey and Ukraine. It also has a factory for solar panels. The group employs some 3,000 people.