Standard & Poor's raises the long- and short- term counterparty credit and certificate deposit ratings of Bulbank to BBB/A-2 from BBB-/A-3. The outlook is stable.

The ratings of Bulbank reflect its solid position in the Bulgarian banking system, strong capitalization and funding, good profitability, as well as the strong support from its parent - UniCredit, Standard & Poor's announces.

The rating agency expects the future commercial initiatives of Bulbank and UniCredit to improve the financial performance and market penetration of the Bank.