Sofia Will Also Get 'Junk' Credit Rating

Business » FINANCE | December 13, 2014, Saturday // 11:22| Views: | Comments: 3
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Bulgaria: Sofia Will Also Get 'Junk' Credit Rating Photo: Novinite.com

Bulgaria's capital Sofia credit rating will also be downgraded to “junk”, said the deputy mayor in budget and finances Doncho Barbalov, quoted by Dnevnik.bg.

The reason is the downgrading of Bulgaria's sovereign credit rating from BBB-/A-3 to BB+ from BBB- with a stable outlook by the Standard & Poor's on Friday.

“There is no way that a city has a higher credit rating than the country it is in, no matter how well it performs financially,” Barbalov said. “This happens for the second time this year after Bulgaria's rating was cut from “stable” to “negative”.”

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Tags: sofia, credit rating, Bulgaria, junk, Standard & Poor's
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» To the forumComments (3)
#3
George Zhelyazkov - 13 Dec 2014 // 23:13:58

What I have been saying for all these years Novinite? What has your stupid EU and Western progress brought Bulgaria? Misery, backwardness and stagnation.

You see Novinite, I've been saying on this forum since before the Chinese built the Great Wall that emerging markets are the future of the world. With countries like our most Slavic of saviors of the holy and brotherly Slavic supreme peaceful and loving Russia leading the way with growth of over 10% per year and a strong currency that rivals the US Dollar or Swiss Franc, why the hell get in bed with a dying EU? With the EU we can only expect unemployment, credit downgrades and misery.

I've been generous enough all these years giving my followers and fans on this website free advice on how to get rich in 15 minutes doing business with Kyrgyzstan and Togo. Yet I still get scorn, ridicule and Novinite employees making fun of me. But that's all fine, now that Mayor Fred Eisenberger has deported me from Hamilton due to my abuse of public funds, I'm going back to Bulgaria with high hopes and ambition that my life will change. I plan to open an English language website to rival Novinite. I will personally go to Novinite's office dressed in my Karate suit and kick the asses of all the employees making fun of me and of that tricky and money hungry owner. Come with me you two hundred leva per month losers, I will teach you how to go to Canada and make C$3,000 by milking the system and together we'll build a brighter (and more prosperous) Bulgaria together!!!

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