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S&P upgrades United Bulgarian Bank, withdraws ratings

S&P Global Ratings on March 21 upgraded United Bulgarian Bank AD's long- and short-term issuer credit ratings to BBB-/A-3 from BB+/B and revised the outlook to stable from positive.

The ratings were subsequently withdrawn at the company's request. S&P said it raised the ratings based on its view that the bank's integration into Belgium-based KBC Group NV was progressing well.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.