Credit rating of Novi Sad improved

The credit rating of the City of Novi Sad has been improved, the cabinet of mayor Milan Djuric announced.

One of the world’s three most influential agencies for credit risk assessment, Moody’s Investors Service, has decided to improve the credit rating of the City of Novi Sad to “Ba2 – positive outlook”, whereas, from August last year, the credit rating was “Ba2 – stable outlook”.

Djuric reminds that the agency recently also improved the credit ratings of Serbia and the City of Belgrade and that he congratulated his colleagues and estimated that the acknowledgment meant that “our cities contribute considerably to the national economic performance.”

– We will continue developing even more strongly – the mayor of Novi Sad said.

The credit rating also features the outlook of the potential credit rating trends, so a “positive outlook” indicates that it is expected that the rating of the City of Novi Sad will be increased.

The rating that Novi Sad had until then – a “stable outlook” meant that it was expected for that rating to be retained, but it nevertheless progressed.

The press release says that, according to the methodology of Moody’s Investors Service, based on the analysis of macroeconomic and political factors, internal and external environments, the “Ba2” credit rating reflects “a reasonable and consistent budget management, good financial discipline, a low debt level, as well as low costs of debt servicing, a simple structure of credit debts, consisting of long-term credits for the financing of capital projects, high liquidity and the considerable role of the City of Novi Sad in the national economy.”

Grad Novi Sad

Moodys Investors Service

Milan Đurić

credit rating