Sofia, June 6 (BTA) - The Standard & Poor's Global Ratings agency has revised its outlook on Sofia from stable to positive, Sofia Town Hall reported Wednesday.

The agency has affirmed its 'BBB-' long-term issuer credit rating on the city of Sofia, which is considered an investment rating. This will help raise cheaper funds to implement Sofia's investment programme. S&P notes the municipal administration's good work in maintaining financial stability and the high-level of Sofia Municipality's own revenue.

Days ago, the credit ratings agency revised its outlook on Bulgaria from stable to positive, which allowed for Sofia Municipality's outlook to improve as well.