Standard & Poor's Global Ratings agency has raised its long-term sovereign credit ratings of Sofia from ВВ+ to ВВВ- with a stable outlook, which means it is now in the investment grade group.  

This means that Sofia is now a more attractive place to invest. One of S&P Global Ratings's motives is that the city’s status as an administrative, financial and commercial centre of Bulgaria comes as corroboration of Sofia municipality’s rating. This assessment reflects the agency’s view of the municipality’s extremely high liquidity and good budgetary flexibility, based on a considerable autonomy in the administration of local revenues. The stable outlook reflects the rating of Bulgaria (BBB-/stable outlook/A-3) as well as the fact that Sofia’s economy is above the average for the country.