The Luxembourg Stock Exchange (LuxSE) held a bell-ringing ceremony on Wednesday to mark 10 years of the European Stability Mechanism and the European Financial Stability Facility on the bond market.
“The past 10 years have brought a lot of changes to our world and the financial system that supports it, but one thing that hasn’t changed is our relationship between these institutions,” LuxSE CEO Robert Scharfe said at the start of the ceremony.
ESM was established in October 2012 as a permanent solution to the problem which arose and for which EFSF was initially temporarily set up in June 2010, to solve the backstop issue for euro countries which weren’t able to tap the markets any longer.
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Fitch revises Bulgaria s outlook to positive, affirms BBB rating gary yim/Shutterstock.com
SOFIA (Bulgaria), February 22 (SeeNews) - Fitch Ratings said that it has revised the outlook on Bulgaria s Long-Term Foreign-Currency Issuer Default Rating (IDR) to positive from stable and affirmed the IDR at BBB .
The change in Bulgaria s rating outlook reflects the improved GDP estimate for 2020 and the expected substantial funding for investment from the EU, which dissipates short-term downside risks tied to the coronavirus pandemic, the ratings agency said in a statement on Friday.
Fitch Ratings also said:
MEDIUM
Bulgaria s Positive Outlook reflects the dissipation of macroeconomic risks stemming from the Covid-19 pandemic, underpinned by a more resilient economy and a sound policy framework, as well as continued gradual progress towards euro adoption. In Fitch s view, short-term downside risks tied to the coronavirus pandemic and an uncertain electoral outcome a