The international rating agency Standard & Poor's (S & P Global Ratings) increased Sofia's long-term credit rating from BB + to BBB- with a stable outlook. So the capital is already in the "investment ratings" group, announced Sofia Municipality.
This means that Sofia Municipality becomes an even more attractive place to direct investments. Good rating is not only a useful reference for foreign investors, but also for the municipality itself and its citizens because it helps to attract cheaper financial resources for the capital's capital program.
The increase is also recognition for the good work of the mayor of Sofia Yordanka Fandakova and the municipal administration for maintaining the financial stability and high level of own revenues of Sofia Municipality.
The S & P Global Ratings's statement states that the status of the city as an administrative, financial and commercial center of Bulgaria. In the words of Standard and Poor's, this contributes to diversification and provides grounds for predicting sustainable economic growth in the local economy.
The stable outlook reflects that of Bulgaria's rating (BBB- / stable outlook) and reflects the fact that the economy of Sofia is stronger than the average for the country. For this reason Standard & Poor's give the Sofia Municipality the maximum possible rating for a Bulgarian municipality that is equal to the state one.
