S&P affirms Sofia at 'BBB', outlook stable - municipal govt

S&P affirms Sofia at 'BBB', outlook stable - municipal govt

Standard & Poor's (S&P) has affirmed the long-term credit rating of Bulgarian capital Sofia at 'BBB' with a stable outlook, Sofia municipal government said.

Sofia's rating is equal to the rating of Bulgaria, the municipal government said in a statement earlier this week.

The Bulgarian capital continues to maintain stable economic indicators and good liquidity. Diversified local economy and low unemployment are among the main factors for the confirmation of S&P's forecast for the city's development, according to the statement.

S&P is of the opinion that unemployment in Sofia will remain well below the country's average and the city will continue to have stable revenues and expenditures, the municipality noted.

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