Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
"Bulgarian Railways" (BDZ-Passenger Services EOOD) has inked a contract with Deutsche Bahn for the supply of 76 state-of-the-art passenger wagons. This agreement marks a pivotal moment in Bulgaria's transportation sector, signaling a tangible step towards modernization and enhanced service quality.
Scheduled for swift implementation, the contract outlines the delivery of 76 modernized passenger wagons, with the initial batch of 19 slated to arrive in Bulgaria as early as April. The subsequent delivery of the remaining 57 units is anticipated to be completed by the onset of June. With this influx of cutting-edge rolling stock, "Bulgarian Railways" aims to revamp over 20% of its existing fleet, bolstering its capacity to cater to high-demand routes spanning from Sofia to Varna, Burgas, and Ruse.
Integral to the contract are 60 second-class saloon-type passenger carriages, 6 specialized units tailored for accommodating disabled persons and bicycles, as well as 10 bistro carriages. The comprehensive deal, valued at BGN 30.5 million, encompasses all associated costs for transporting the vehicles to Bulgaria, with an individual unit price of BGN 391,166.
This momentous agreement follows closely on the heels of intensive negotiations between the Ministry of Transport and Communications, led by Minister Georgi Gvozdeikov, and "Bulgarian Railways". Embarking on a journey of reform, these discussions culminated in a pivotal visit to Deutsche Bahn's base in Leipzig, where detailed inspections and discussions cemented the terms of the contract.
Emphasizing a commitment to modern comfort and convenience, the procured rolling stock boasts cutting-edge features, including air conditioning systems and advanced passenger information displays facilitating seamless navigation along the railway network. Notably, the passenger wagons underwent their last planned overhaul between 2018 and 2022, before serving on Germany's esteemed railway network until December 2023.
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