site.btaS&P Global Ratings Upgrades Sofia's Long-Term Credit Rating

The Standard & Poor's Global Ratings
agency has increased from 'BBB-' to 'BBB+' its long-term credit
rating on the city of Sofia with a positive outlook, Sofia
Municipality said Wednesday. 

According to the S&P Global Ratings analysts, after the local
elections there is continuity in Sofia's governance that will
ensure further financial stability and the high liquidity
maintained. The international credit agency expects Sofia
Municipality to continue maintaining the high level of its own
revenues, as before.
   
Bulgaria's capital joined the cities with investment ratings in
December 2017.

Sofia's higher credit rating comes several days after S&P Global
 Ratings upgraded Bulgaria's  long-term and short-term foreign
and local credit ratings to 'BBB / A-2' from 'BBB- / A-3',
outlook positive. According to the agency's rules, the city
cannot have a higher rating that the State's, Sofia Municipality
 specified.
   
Reacting to the news of Sofia's upgraded rating, Prime Minister
Boyko Borissov Wednesday told journalists that today Sofia has
the highest rating among all capitals in the Balkans.

During Cabinet's regular meeting, Borissov congratulated the
Finance Minister, the Economy Minister and the entire Government
 on Bulgaria's upgraded credit ratings.

DT/DS