S&P reaffirmed Sofia's credit rating of 'BBB' with a stable outlook
The international rating agency Standard & Poor's (S&P Global Ratings) has confirmed the long-term credit rating of the city –'BBB' with a stable outlook. This happens only a day after the adoption of Sofia's budget.
Sofia's rating is equal to Bulgaria's. This is a recognition of the financial policy followed by the team of Mayor Fandakova, based on financial discipline and a stable budget.
The key role of the economy of Sofia City in the country is another important reason for the rating agency to support its trust and to confirm its forecast for the development of the city.
Sofia joined the cities with investment ratings in December 2017.