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      Instrument data
      Issuer
      Republic of Bulgaria
      Senority
      Senior Unsecured
      Currency
      EUR
      ISIN
      XS3124393367
      Coupon percent
      4.125%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      1,200,000,000
      Maturity date
      18/07/2045
      -
      A- Outlook: Stable
      A- Outlook: Stable
      Latest change
      New
      05/11/2025
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Brian Marly Lead analyst
      Alvise Lennkh-Yunus Committee chair
      Scope upgrades Bulgaria's credit ratings to A- and revises the Outlook to Stable (correction)

      11/7/2025 Rating announcement EN

      Scope upgrades Bulgaria's credit ratings to A- and revises the Outlook to Stable (correction)

      Euro area accession effective 1 January 2026 drives the upgrade. Institutional weaknesses and recurrent episodes of political instability, demographic pressures and vulnerability to shocks as a small, open economy remain key credit constraints.

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