The low-energy region of the singlet-->singlet, singlet-->triplet, and triplet-->triplet electronic spectra of 2,2'-bithiophene are studied using multiconfigurational second-order perturbation theory (CASPT2) and extended atomic natural orbitals (ANO) basis sets. The computed vertical, adiabatic, and emission transition energies are in agreement with the available experimental data. The two lowest singlet excited states, 1(1)Bu and 2(1)Bu, are computed to be degenerate, a novel feature of the system to be borne in mind during the rationalization of its photophysics. As regards the observed high triplet quantum yield of the molecule, it is concluded that the triplet states 2(3)Ag and 2(3)Bu, separated about 0.4 eV from the two lowest singlet excited states, can be populated by intersystem crossing from nonplanar singlet states.