S&P Global Ratings raises Sofia’s credit rating

S&P Global Ratings has raised its long-term credit rating on Sofia from ‘BBB- to ‘BBB, while maintaining a positive outlook.

According to S&P Global Ratings analysts, after the local elections in Sofia, there is continuity that will ensure further financial stability and maintain high liquidity. The International Credit Agency expects the Sofia Municipality to continue to maintain the high level of its own revenues as before.

Sofia joins the cities with investment ratings in December 2017.

The rating of the capital increased several days after the credit rating of Bulgaria was raised. According to S&P Global Ratings rules, a city cannot be rated higher than its state.