KEYWORDS TODAY:   ENERGY BOARDNIKOLAI KOBLIAKOVOUTLOOK 2020NATOUKRAINESANCTIONSSOTLOFF

Mayor Fandakova Worried About Sofia's Credit Rating

Business » FINANCE | June 14, 2014, Saturday // 14:35| Views: 1118 | Comments: 1
  • Send to Kindle
Bulgaria: Mayor Fandakova Worried About Sofia's Credit Rating Sofia Mayor Yordanka Fandakova. Photo: BGNES

Sofia Mayor Yordanka Fandakova said she was worried about the city's credit rating, after Standard and Poor's cut Bulgaria's rating to BBB-.

“I am extremely worried, because the state's and the municipalities' credit ratings are like interconnected vessels,” Fandakova told Focus news agency. 

“In the hardest years of economic downturn we managed not only to keep our credit rating, but to improve it,” she said. “We managed to increase the budget, to build and develop our city. Unfortunately, however, the city's credit rating is dependent on the country's credit rating. So I expect the Sofia credit rating to be cut, in spite the stable financial situation of the city.”

Finance » Be a reporter: Write and send your article
Tags: Fandakova, sofia, credit rating
Expats.bg All Are Welcome! Join Now!

Leave a comment


» To the forumComments (1)
#1
sa-sha - 14 Jun 2014 // 16:07:09

...clouds in the S&P skies. Беда.

http://www.youtube.com/watch?v=M4OkeLWmxOM

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria