Raised Outlook on Credit Rating by Standard and Poor’s
Standard and Poor’s raised the rating outlook of Municipal Bank PLC to “stable” on 25.07.2011. The long-term counterparty credit rating is affirmed at ‘B+’. The better placement to manage further potential asset quality deterioration given the bank’s relatively low stock of net nonperforming loans, its adequate capitalization, and the economic environment in Bulgaria, which in S&P’s view is showing signs of stabilizing are among the factors for the positive assessment. Furthermore, it is pointed out the Bank benefits from adequate liquidity because it holds large amounts of cash and government securities. The international credit rating agency also believes that there is a continued "moderate" likelihood that the City of Sofia would provide timely and sufficient extraordinary support to the bank in the event of financial distress.
The raised outlook is evidence of the soundness and reliability of our financial institution, which is seen as a correct partner of Bulgarian municipalities, businesses and individuals.
July 2011
- 26.7.2011
Raised Outlook on Credit Rating by Standard and Poor’s