07:24 PM EDT, 06/23/2026 (MT Newswires) -- MSCI ( MSCI ) said it will reclassify Bulgaria from Standalone Market status to Frontier Market status, citing improved liquidity and a smooth transition to the euro, the index provider said Tuesday.

The move follows a consultation launched in 2024 after enough Bulgarian stocks met MSCI's ( MSCI ) size and liquidity requirements for frontier markets. MSCI ( MSCI ) had delayed a decision following investor concerns about limited liquidity and the timing of Bulgaria's euro adoption.

MSCI ( MSCI ) said conditions have since improved, with higher trading turnover and more securities meeting frontier market eligibility criteria.

The reclassification will take effect in May 2027 across MSCI's ( MSCI ) standard, custom and derived indexes. MSCI ( MSCI ) said the upgrade reflects meaningful improvements in market accessibility and investability for international institutional investors.