Bhagavant: the Blessed One

PTS dictionary gives Bhagavant:fortunate, illustrious, sublime, as Ep. and title "Lord." Usual trs. Blessed One, Exalted One.

The translation bhagavant as Blessed One cannot be understood.

Blessed is associated with God; see the definition of blessed in the Oxford Dictionaries.

I shall be grateful, if someone could clarify this.

Metta is being friendly to everybody