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At the end of 2019, a few days after Bulgaria's credit rating was upgraded by S&P Global Ratings, the long-term credit rating of Sofia was also upgraded from 'BBB-' to 'BBB' with a positive outlook. Thus, the Bulgarian capital has the highest credit rating of all capitals on the Balkans, as well as compared to Russia and Turkey. The reasons for the decision are the financial stability and the high liquidity of the municipality.
