BELGRADE (Serbia), January 25 (SeeNews) – French credit insurance agency Coface said it has upgraded the credit risk assessment rating of Bulgaria, Serbia and Bosnia and Herzegovina on the back of robust economic recovery.
Serbia's rating was lifted to B from C and of Bosnia and Herzegovina to C from D as a result of the improvements in their business environments and economic growth that is reaching comfortable levels, Coface said in a statement on Tuesday, presenting the results of its emerging countries risk study.
The credit risk assessment rating of Bulgaria was increased to A4, as the country has confirmed its recovery, thanks to moderate growth and the continued consolidation of its banking sector, Coface said.
Coface also upgraded the business climate rating of Bosnia and Herzegovina, Serbia and Montenegro to B from C, thanks to improvements in the “institutional” and “financial information” indicators, and of Romania to A3 from A4 because of better protection for creditors.
On the other hand, Coface downgraded the business climate rating of Slovenia to A3 from A2, due to the impact of lengthy legal processes.
Data about the annual GDP growth forecasts of Coface for countries in Southeastern Europe (SEE) (percentage change):
|
Albania |
Bosnia and Herzegovina |
Bulgaria |
Croatia |
Macedonia |
Moldova |
Montenegro |
Romania |
Serbia |
Slovenia |
2016 |
3.3 |
3.0 |
3.3 |
2.6 |
2.1 |
1.5 |
2.7 |
4.6 |
2.7 |
2.2 |
2017 |
3.6 |
3.2 |
3.0 |
2.4 |
3.2 |
2.0 |
3.4 |
3.6 |
3.0 |
2.7 |