site.btaS&P Rating Agency Confirms BBB Credit Rating for Sofia Municipality

The Standard & Poor's Rating Services confirmed Sofia's long-term credit rating at BBB with a positive outlook, Sofia Municipality said in a press release on Monday.

"S&P Global Ratings' assessment of Sofia is a recognition of the work of Mayor Vassil Terziev's team", the press release pointed out, adding that Bulgaria's capital city shows stable financial results and good liquidity. "The good financial discipline that we are developing is indicative of the municipal economy", Sofia Deputy Mayor for Finance Ivan Vasilev emphasized.

Sofia's rating is equal to that of Bulgaria. According to S&P rules, no municipality can have a higher rating than that of its own country.