24.06.2008Increased Rating Perspective by Standard and Poor’s

The rating perspective of Municipal Bank AD has on 23 June 2008 been revised to “Stable” by the international credit rating agency Standard and Poor’s. The counterparty credit ratings (Long Term: BB-; Short term: B) have been affirmed. The increase in the perspective and maintenance of the Bank’s ratings against the background of the international financial crisis reflects its successful management and good financial standing. Some of the main factors for the increase have been:

• High liquidity maintained;
• Good levels of capital adequacy;
• Stable increase in the deposit base;
• Leading position of Municipal Bank AD in servicing municipal finance, with a market share exceeding one-third in the municipal funding;
• Shareholders support and good relations with Sofia Municipality as a main shareholder of the Bank.