Morningstar DBRS Assigns BBB (high) Credit Rating to Republic of Bulgaria, Stable Trend

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  02-May-25	Long-Term Foreign Currency - Issuer Rating	BBB (high)	Stb	New Rating	EU U
  02-May-25	Long-Term Local Currency - Issuer Rating	BBB (high)	Stb	New Rating	EU U
  02-May-25	Short-Term Foreign Currency - Issuer Rating	R-1 (low)	Stb	New Rating	EU U
  02-May-25	Short-Term Local Currency - Issuer Rating	R-1 (low)	Stb	New Rating	EU U

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