Fitch Ratings votes confidence in Eurohold with stable outlook and rating

The credit rating agency removed Eurohold Bulgaria AD from the watchlist

Fitch Ratings confirmed credit rating "B" and stable outlook of holding company Eurohold Bulgaria AD, EIG's parent company. The international credit rating agency announced the removal of the Group from its Rating Watch Negative.Fitch's assessment has reflected the reduction of the company's indebtedness, the reduced reputational risk and the absence of a risk of a liquidity crisis due to the events related with Euroins Romania subsidiary. Fitch also assesses positively the written agreement of Eurohold's creditors and bondholders not to make claims because of the Romanian insurance company's case, providing full support to the Company.

Fitch has also assessed Eurohold's financial performance in 2022 as better than expected. As a result, the indebtedness of the holding has decreased to a lower-than-expected level, and the agency predicts a further improvement of the indicator this year.The strong performance of the holding's energy business has contributed to this trend.

Please refer here for all relevant information.