Bulgarian American Credit Bank announced that on November 18 Standard & Poor's Ratings Services affirmed BACB's credit rating at BB+/B and revised the outlook to negative from stable. Among the reasons for the revised outlook, Standard & Poor's Ratings Services cited its growing concerns that the rising economic risks in Bulgaria may have adverse impact on the Bulgarian financial sector. In particular, the rating agency found it possible that a slowdown on the Bulgarian real estate market may have a negative impact on the asset quality and the financial performance of the bank.